Couple that with the 44% of Palm Beach County mortgages that are currently under water and think about how many of the 90+ days late individuals will actually catch up/get current on their loans...and what is their incentive to actually do that if they are upside down? After 90 days of a mortgage delinquency the credit has already taken a major hit...so the best option for the majority in this situation may very well be a short sale...keep a foreclosure off the credit record, and possibly side-step a deficiency judgment.
