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People often fall in love with their homes based on some charming but impractical feature or other. Now, increasing numbers of homeowners are abandoning their nests for similarly emotional—and sometimes irrational—reasons.
It turns out that many of the Americans defaulting on their mortgages are doing so out of anger, fear or despair rather than making a purely sensible decision about their best financial interests, a new study found.
Though small—covering just 350 people—the study spotted a notable trend. Some of these people have stopped paying because they are anxious about their financial situation; others are furious that banks or the government won’t help ease their load while other people are getting assistance. Hopelessness is a factor for others.
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