Sailing away from debt

I assume everybody saw the story about banks that foreclose on houses and then don't take possession, so I blogged that at DetNews along with a link to the rise in urban squatters. But I meant to post this other story for Capt. Fogg. It seems there has been a huge rise in people abandoning their boats.

Sometimes they're scuttled to try to avoid paying for boats that lost their value to below the loan, or to collect on the insurance. But apparently often they're paid for and people can't afford the mooring fees and other maintainence. Many are still seaworthy. Seems odd to me, that they wouldn't at least try to sell them at a loss rather than just walk away. [graphic]

[More posts daily at The Detroit News]