Pretty sure they wouldn't write off the whole amount, though.I'd talk to a Realtor about what you could realistically get for it.

I was surprised by the gravity of some of his comments.I agree with you whole-heartedly on the concept the executives that got rich making bad decisions should not get off easy.

If they trash it...insist another BPO...the value comes in lower...you just made the whole thing worth your while.

I don't see myself buying anything any time soon after this whole experience. the thought of dealing with lenders again makes my stomach turn. thanks again for the good advice.

for a good laugh, watch this whole thing. right or wrong, this guy is great:http://www.youtube.com/watch?

The whole reason government can spend your money willy-nilly is because of a misinterpretation of the "general welfare" clause >>> http://www.capmag.com/article.asp?

So how do you think this will effect the real estate market as a whole?

i would suck it up and pay the payment.you are saying you are $45k in the whole on this property (80k HELOC - $35k value =45k)....45k @ 8% interest only payment = $3600 a year or $300/month.is $300 a month really worth you ruining your credit and possibly your future for?

Maybe I am young (25) and naive but this seems like drastic overeaction.I seriously doubt with every bone in my body we need to be stocking up on guns, ammo, food, safes...etc.It's almost laughable.I think we are heading into tough times with a depression looming but come on....Maybe I am just to sheltered in the nice rural town I am living in right now.All you guys are fairly logical and to my understanding aren't total wack jobs.

I was just wondering how the loss of jobs and the reverse of people back across the border would effect the housing markets in those states with a heavy immigrant pop.Remember when the whole debate about illegals not being required to have ss numbers to buy a house was going on?