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To: Sam who wrote (80081)	7/11/2009 5:12:23 PM
From: Spekulatius	Respond to of 118717

I know a few folks who went through short sales or foreclosure. Many do it voluntarily. Their houses are deep underwater and worth 30% less than the mortgage. They can pay but they have to stretch a lot, cannot fund 401K, loan modification do not decrease the mortgage payments not matter what.(they were on teaser rates). In short they know they mad a bad bet with their house and they want to cut their losses. If they start with aggressive credit repair after a short sale or even a foreclosure they can be ready again in 2-4 years to buy a house for much less than they owe know. Shortsales are a mortgage relieve program, IMO.