Underwater and Not Walking Away:

Shame, Fear and the Social Management of the
Housing Crisis

Millions of homeowners in the United States are “underwater” on their mortgages,meaning that they owe more than their homes are worth. Yet, despite all the concern over homeowners who are simply “walking away” from their homes, the vast majority of underwater homeowners continue to make their mortgage payments – even when they are hundreds of thousands of dollars underwater and have no reasonable prospect of recouping their losses.

3967104282a—– Interrogatories from ALJ