i would walk away from the mortgage payment completely

1. you house is underwater with 0 down, you have no equity. if you walk away, you would have nothing to lose except your credit.

2. you can't refinance into a tradition loan

3. it will take on average 1 year to foreclose, you can technically still live there 1 year rent free and save around 30K cash.

4. if you live in a non-resource loan state, bank can do nothing to you.

i would just walk away, no reason to throw good money after bad. you can either rent or buy a new one with money you saved.

所有跟帖： 

• Good luck finding a place after you doing all that -大大脑袋- ♂ (0 bytes) () 08/27/2010 postreply 14:20:48

• Doing what? strategic default, isn't half the nation has already -tank- ♂ (172 bytes) () 08/27/2010 postreply 14:36:39

• 我家原来情况跟你们相似. -aabbjoce- ♀ (543 bytes) () 08/27/2010 postreply 14:39:11

• how much points you had to pay -zhao123- ♀ (108 bytes) () 08/28/2010 postreply 19:50:38