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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (93958)	11/6/2007 11:51:35 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

It depends. How long have you been under and how fast are you sinking? If I were in a bad neighborhood or in bubble area that is crashing then I would walk. If there were hope that housing might turn around or I was simply having trouble paying my mortgage then I would be approaching the bank for more favorable terms. The one thing I wouldn't be doing is nothing. I notice you edited your post to say many would wait for 100K underwater. If homes run $700K+ then that makes sense. Around here you can get a lot of home for $300-$400K. a $100K haircut is a big deal.