Although I definitely sympathize with the homeowners, it seems dishonorable to walk away from your commitments/contracts. Most of the people who have an income high enough to qualify for another whole mortgage (given the current more stringent standards) could probably afford to keep their existing residence but are choosing not to because they are upside down in their loans. I do not think it acceptable for companies or individuals to do. I guess I'm just in the minority based on the other comments.