Interesting article here

http://newsvote.bbc.co.uk/1/hi/business/7529277.stm

I didn't realise that in the US you could walk away from a debt like that and not be pursued. So people are walking away from paying for their house because it doesn't make business sense any more

In the UK people who hand back their keys because they can't afford their house anymore are routinely pursued if the sale of the house by the bank fail to raise the full amount of an outstanding loan.


Nick