I would like to hold on to the property for several years, mainly for tax purposes and appreciation as I believe my area which has a very strong employment base is on the rebound and the property will likely appreciate by 20K in few years, according to local investors and brokers.I also want to get my feet into the world of REI.

Well, you can lose everything and rebound twice as fast if you maintain your integrity.

Some Wall Street pundits are even saying it may hurt the rebound even more.My advice to Obama.

Regardless, a foreclosure will really plumet your credit score from about 105-160 range, so even though it does not look like much off a difference in credit scores dropping from a dil/short sale to a foreclosure, there is a difference, and a foreclosure takes about 7 yrs to rebound your score, and a dil/short can take yeare, but the average is a lot shorter to start rebuilding your credit score.

I like silver more because it can still do well if the economy rebounds for real.

I think the Economy will rebound when the Dow to Will's Posts ratio is 1

Of course if a significant market rebound were to happen over the next year or so, I could see holding it for a while to cash in on that.

So, the total number of houses needed to house our citizens is reduced.But until unemployment decreases and these young adults find the jobs, income, and stability to buy or rent a home, I think many of them are going to remain "boomerang" kids and continue living with their parents, once again denying the rental market another household to service.Unemployment improvements tend to lag economic rebound after a recession, so I wouldn't be surprised to see things like housing, retail, services, etc improve short-term, while unemployment stays relatively high.

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george, i'm sure i get it much worse than you...i'm 24 and look 16 some days...everyone thinks they need to talk down to me ...the ones who actually want to have a conversation only want to show their 'expertise' about how the market should fully rebound this year or next..it's just best to smile and nod as everyone says :)