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Am I to assume that you don't know the difference between a lease and a loan? Not being financially sophisticated enough to understand that loans and leases are completely different things in all regards would explain all your confusion on this matter.
They're both promises to pay a certain amount per month over a defined term of years. The agreements are both secured by an asset, both agreements have default provisions, etc. One is a house, one is a car - that's an important difference.
So the standard is it's moral to break a contract that contains a promise to pay if the promise to pay is structured as a lease, but IMMORAL to break a promise to pay if structured as a loan. Interesting. So if I have a car loan of 60 months, and at month 22 I'm drowning etc., it's immoral to turn those keys in because it's a loan and not a lease? I'm not seeing the moral distinction there myself.