hi william. sorry to hear of your bad luck here. but, there is always one good word of advice. never give up. yes, your property is underwater right now. if you can afford to keep making payments on both loans, please do so. sure, on the one loan, you are basically " paying on a dead horse". there really is nothing you can do about that. over time, with making sure payments are being made on both loans, you will overcome your bad credit rating simply by making the payments. in that time, should the market on your home increase, you may overcome the negative equity also. only time can help you right now. in the meantime, look for other house deals that you can make. maybe they will not be the level of what you were dealing with in the past, but as long as you are making money, thats the goal. keep moving forward. hurdles in life are put there to teach us a lesson. learn all that you can. 

Will take $3000-$4000/month to reach my goal. Keep

You have a very achievable goal, keep moving forward and you will get there!

Okay I'll take on the task of Official Goal Keeper...but just to warn you all, I will be checking back on you at the end of the month!!

For the ensueing 20 years, creating a large holding of real estate was the goal. Keeping

That should be the goal. Keep

My goal keeps going up. 

If getting into real estate is a goal. Keep