Any Mortgage/Foreclosure gurus?

seabee said
Thanks for the comments.
I would love to live in it, but the military has us three States away. The original plan was to move back in after retirement which is 9 years away because we love that area. We already knew we would rent it for less than the mortgage and adjusted to fit. What we didn't expect was the bottom to fall out of the housing market to this degree and our neighbors to run for the hills.

First off. Thanks for serving our Country. What You're saying makes Sense! It's definitely a tough situation.

seabee said
The "morality or ethics" issue is what is playing a big factor though. We're not really having financial hardships. We eat well, rent a nice house, have 2 paid off cars, and count our blessings because of it. Yeah, that extra $700 a month would be amazing to spend or pay off debt with, but we're getting by.

I wouldn't worry for a second about Morality/Loyalty to the Banks. They have been sticking it to us in a big way forever. The Housing market will turn around eventually. Even though you are in the hole each month for $700, You are growing closer to owning the home. If it's where you want to be in 9 years then maybe still tough it out. If you want to live elsewhere than Do what you gotta do.