Originally Posted by seamstome

I understand so much. I did everything right. I put 30% down. I have great credit. I have never made a late payment. I am now upside down. Luckily I have no need to re-finance but if I did I would be up a creek without a paddle because I do things the right way. My properties are assessed 210,000 to high IMHO but I could only get 85,000 decreased for tax assessment purposes this last year. They said I could fight the assessment again next year and maybe get the rest of it knocked down.

And these people will strategically default and then be able to buy again in a few years. The taxes arent being paid so my city and state services are being cut even though I am paying out the nose. In the end they will be better off in retirement than I will be because I followed the rules. Sure does make you want to walk away!