> But there is a difference: Big property companies can keep doing business after they default and are even considered savvy for jettisoning distressed building

> But there is a difference: Big property companies can keep doing business after they default and are even considered savvy for jettisoning distressed buildings. But homeowners who stopped paying their mortgages suffered a huge hit to their credit ratings If the terms of a contract say I can hand over the property to the bank and walk away liability free, then I shouldn't take any kind of reputational hit (credit rating) for doing so. It's kinda sad that lawmakers and courts haven't done anything to rectify that.