where there is a clear cut no money down investment into a $200,000 loser, yep they are going to walk away, credit be damned. But there are variations on that model; you have the homes that have lost $130,000 but were bought with $50,000 down; and the people love the home and want to live there; they don't need to move just because of where values are in today's market.

Also, don't kid yourself, a foreclosure on your credit is far more devastating than just a low score.

This was a good article; we've been talking about walk aways in bottomline for a year now, it is relevant and serious, it will add more fuel to the foreclosure fires, but I don't think that every upside down home in California is going to produce a walkaway.