So for many of them the rational solution would be a "strategic default" — walking away from the mortgage and letting the bank take the house.
"It's not something that allows people to default and walk away," he said.
When Democratic voters in the state go to the polls Tuesday, many observers expect Senator John Kerry of Massachusetts, the new local favorite by default, to walk away with the bulk of the 49 delegates at stake.
And homeowners with low equity are far more likely to default or walk away from a mortgage.
Because no one including a lender can sell restricted shares, lenders are unlikely to grant nonrecourse loans that would let a borrower default and walk.
The biggest transition is the mode of communication, which goes from default-synchronous (walk over to your colleague's desk) to default-asynchronous (PM them on Slack).
— Dick Durbin, a Democratic Senator for Illinois "A shutdown or default or wobbly walk around the rim of default would be, as my mother would say, unhelpful.
Mr. Lewis explains why the world is so worried that Greece could default: "If Greece walks away from $400 billion in debt, then the European banks that lent the money will go down, and other countries now flirting with bankruptcy" might easily follow, destabilizing regional and world economies further.
As a white, not visibly disabled man, you are Default Human, able to walk the streets with a minimum of hassle.
That works for us: we both work from home, and our default option is to walk 15 minutes to a nearby regional train station.
