A Growing Popular Trend, Foreclosure due to Strategy, not crisis

In areas where homes are worth significantly less than what homeowners owe on their mortgage, some homeowners are choosing a "strategic default", where they are walking away from their property and giving the bank the keys. This is starting to become somewhat more common because of homeowner frustation with home values plummeting in various parts of the country along with frustration with banks dragging their heels on loan modifications.