Many homeowners are paying mortgages that are higher than their homes are worth. Why do they do it?After all, millions of American homeowners are “underwater,” meaning that they owe more on their mortgages than their homes are worth. In Nevada, nearly two-thirds of homeowners are in this category. Yet most of them are dutifully continuing to pay their mortgages, despite substantial financial incentives for walking away from them.Find the answer in the NYT article here.
