For many Americans the answer to that questions is “I have no choice.” But for a lot of other people, the it is a lot harder to answer. You may just barely be able to pay your loan, but you are not able to sell your house because you have lost equity and can not sell it and the bank is unwilling to do a loan modification. You may find that your you owe so much more than your house will ever be worth again that you may as well walk away from your mortgage now.