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Cengage Advantage Books: Foundations of the Legal Environment of Business 2nd Edition by Marianne Jennings, Albert Napier, Marianne Jennings
Edition 2ISBN: 978-1133709947Cengage Advantage Books: Foundations of the Legal Environment of Business 2nd Edition by Marianne Jennings, Albert Napier, Marianne Jennings
Edition 2ISBN: 978-1133709947 Exercise 10
Walking Away from underwater Mortgages and Moral Hazards
Discuss the ethical issues in walking away from a mortgage. Consider who is affected by the decision. In the case of the couple with the $387,500 mortgage, they could not walk away because the disclosure on the husband's credit report would cause him to lose the high security clearance that he needed for his job. Also consider the Laura Nash question (see Chapter 2): How did these consumer-borrowers get in this situation in the first place?
Discuss the ethical issues in walking away from a mortgage. Consider who is affected by the decision. In the case of the couple with the $387,500 mortgage, they could not walk away because the disclosure on the husband's credit report would cause him to lose the high security clearance that he needed for his job. Also consider the Laura Nash question (see Chapter 2): How did these consumer-borrowers get in this situation in the first place?
Explanation
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Mortgage:
It is a kind of legal agreeme...
Cengage Advantage Books: Foundations of the Legal Environment of Business 2nd Edition by Marianne Jennings, Albert Napier, Marianne Jennings
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