I forget where, but someone I read about suggested we just suspend the income tax for a year.It would cost about the same as any bailout might, and man, it sure would reward the people who work hard and keep this economy going.

I have an appraiser that will get me comparable sales and the range that he feels the house will appraise in.

How do you think they would compare?

To add more injury to insult they asked me to provide my business and personal bank statements, to ensure that I was financially suitable to be making/receiving the type of money compared to the deposit they had on hold.

Value gets rewarded.

The real estate bust and all the problems we have now are miniscule compared to what's coming in the next few years, which is a total collapse of our government and bankruptcy of our country.

Waiting 6-12 months may reward you with much lower prices.Some investors thought 3 years ago was a great time to buy - I wonder how that investment turned out - "flippers in trouble" blog.I know it's tempting to snap up these amazing REO deals - perhaps 12 months from they may not seem so great.

Aren't things moving too fast to compare it to past recessions?

Everyone does this a bit differently as you can see based on Bill's response as compared with mine.

I'll never begin to understand how and why a borrower should be rewarded by being able to stay in their home, yet not pay the note.