This is an interesting article from the wall street journal about weather you should default or not. In Nebraska it is a relatively small problem compared to Arizona, I think this fact is just one more reason that Nebraska is going to have a much easier time coming out of the recession. is be a better place to live. One the reasons is that the government in many of the states that have had a lot of strategic defaults will compensate by over regulation this will lead to a non pro business environment.
http://online.wsj.com/article/SB126100260600594531.html?mod=WSJ_hpp_LEFTTopStories
States where lenders generally can pursue such legal claims include Florida and Nevada but not California and Arizona, where laws generally prohibit lenders from pursuing other assets of mortgage borrowers.
Dave, What is the current law in Nebraska on this subject?
This is my 4th time here now. I really enjoy your site and look forward to more reading!