Underwater homeowners walk away to stay afloat
With nearly one in four mortgage holders owing more debt than their house is worth, many now opting for "strategic default"
Jim Axelrod is the chief correspondent and executive editor for CBS News' "Eye on America" franchise, part of the "CBS Evening News with Norah O'Donnell." He also reports for "CBS Mornings," "CBS News Sunday Morning," and CBS News 24/7.
Previously, Axelrod was the chief investigative and senior national correspondent for CBS News. Axelrod's investigative journalism has been honored with a Peabody Award for his series on West Virginia's opioid addiction crisis, a George Polk Award for his work investigating compounding pharmacy fraud, and an Edward R. Murrow award for his reporting on the genetic testing industry. He was also part of the CBS News team honored with a 2010 duPont-Columbia Silver Baton for "CBS Reports: Children of the Recession." Axelrod also won five Emmy awards.
While at CBS News, Axelrod has covered a broad range of domestic and international stories, notably the war in Iraq and the American invasion of Afghanistan. In 2003, Axelrod was the first television journalist to report live from Baghdad's Saddam International Airport immediately after it fell to U.S. troops. His live coverage of the U.S. Army firing artillery rounds into Iraqi positions was the first to be broadcast by a reporter embedded with ground troops engaged in combat in Iraq. Axelrod also covered the departure of U.S. troops from Iraq and was the last reporter to leave with the military in December 2011.
Axelrod joined CBS News in 1996 as a Miami-based correspondent and later served in the Dallas bureau (1997-1999) and New York bureau (1999-2006). He also served as CBS News' chief White House correspondent (2006-2009) and was named a CBS News national correspondent in 2009. From 2012-2016, Axelrod was the anchor of the Saturday edition of "CBS Evening News."
Before joining CBS News in 1996, he was a political reporter at WRAL-TV in Raleigh, North Carolina (1993-1996). Previously, Axelrod was a reporter for WSTM-TV Syracuse, New York (1990-1993); and at WUTR-TV Utica, New York (1989-1990). He began his career at WVII-TV Bangor, Maine, in 1989.
Born in New Brunswick, New Jersey, Axelrod was graduated from Cornell University in 1985 with a Bachelor of Arts in history and from Brown University in 1989 with a Master of Arts in history.
Axelrod is the author of "In The Long Run: A Father, A Son, and Unintentional Lessons In Happiness," which was published by Farrar, Straus and Giroux in 2011.
He and his wife, Christina, have three children and live in Montclair, New Jersey.
With nearly one in four mortgage holders owing more debt than their house is worth, many now opting for "strategic default"
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