Strategic DefaultI've noticed that a striking number of our friends and acquaintances are now considering the option of voluntary mortgage default (mostly on 2nd homes and investment properties). These are not people who can't pay their mortgages -- they have sufficient income or net worth -- they simply bought at or near peak prices and are coming to see these properties as losing investments that are money drains.This is becoming a subject of common discussion at informal gatherings. I sense that many people are just now in the stage of "testing" this concept to re-check whether or not it makes sense financially, and whether or not it will be validated on moral grounds. So far, the answer from accountants seems to be "well, it does make sense" and from peers "I can see why you'd do that." By in large, these are people who don't need to care what their credit rating is, or can certainly weather having a poor one for several years.I wonder whether this class of future defaults is on the radar of policy-makers, If it is, how can they accurately estimate the size of this issue?May 19 2009 - US11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.