stripping the house as opposed to just walking away. Foreclosure when you are underwater is no moral failure anymore than personal or business bankruptcy. I am the only person in my side of the family who hasnt done either. I am underwater about 20k at the moment with 50k equity gone. If rent was about 3/4 or less than my mortgage payment I would have tossed the keys immediately without qualm. That is a business decision, not a moral one.