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A home mortgage is under water when the amount of money owed on it is much greater than ( say , twice ) the market

A home mortgage is "under water" when the amount of money owed on it is much greater than (say, twice) the market value of the home. Assume you have $10,000 equity in the home and your monthly payments are $931. Discuss the economic and ethical issues of walking away from (i.e., defaulting on) an underwater loan.
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