Abstract
In this article, the often overlooked ramifications of strategic mortgage default and the widespread implications it has on our sense of community, economic, and financial stability, as well as mental and physical well-being are discussed. Too often studies examine only the one-off economic effects of strategic default, or more broadly, the foreclosure contagion effect. But, recent work in the mainstream finance literature indicates that larger picture issues such as national healthcare costs are also substantially impacted by major market movements like the recent housing bubble in the United States.
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