As the real estate market continues to limp along, more and more homeowners are opting for strategic default - basically walking away from a mortgage you can afford to pay.

Many describe it as a savvy business decision (even if it ruined their credit), but is it a moral shortcoming?

Despite the fact that he and his wife are employed and have an annual household income near $150,000, he's comfortable with his decision.

"I did a lot of soul-searching about whether it was morally the right thing to do," he said. "I felt there was no moral obligation to make a payment. The contract says it's a financial obligation, not a moral obligation.

"I was in a boat with a slow leak. It was manageable, but I know I was slowly sinking."

The decision to walk, tied to a housing crisis that continues to grip the market, is far-reaching, raising serious questions about whether financial commitments can ever be considered optional.

Mary Ellen Podmolik of the Chicago Tribune has the story: Link (Photo: Michael Tercha/Chicago Tribune)