Anytime you begin a conversation about morals, things can get pretty heated. The biggest issue when discussing morals is that it really comes down to personal morals. Society has its own common moral guidelines, but those tend to move with the ebb and flow of the culture.

Today, in the crux of the economic crisis that many Americans find themselves in, morals have definitely shifted – especially when it comes to home foreclosures. The first thing is that “everybody is doing it” – right? Acceptance for lower morals has caused a moral decline, and much of it is understandable.

Unethical lending practices combined with greedy appraisers and look the other way banking institutions all lead by a “print more money” governmental philosophy have taken their toll on the morals of today’s homeowner.

Our grandparents would have done anything possible to avoid the stigma of foreclosure. But today, foreclosure just doesn’t carry the same stigma it once did – it is so commonplace that it is acceptable. In fact, it is so common place that some homeowners are even holding the bank hostage by trashing their properties – forcing the banks to pay them bribe money just to turn over their house in good condition.

But who is really at fault for all of this?

Why should today’s homeowner who cannot possible make the mortgage payment that has skyrocketed on an adjustable rate mortgage that he or she had no business getting in the first place and for an inflated home value take on all of the moral responsibility? This dilemma, like most moral dilemmas, raises more questions than it answers.

Moe Bedard
My name is Maurice "Moe" Bedard. I am the founder of America's #1 Mortgage Forum, My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.