A trend is emerging: People are willing to allow mortgages to go unpaid and are paying their revolving credit.
Yep, if you have no equity or are upside down on you note you might as well save the cash, pay off other debts, and let the house go to the bank. Then rent a few years and look at buying again.
I heard Dave Ramsey say this and it blew my mind. They have their priorities all screwed up.