Well, I admit it. I am utterly underwater, by about 90K. Not because I had a 105 LTV, but because the prices dropped 100K in my area.
So I am just stuck. Screwed. We can’t re-fi, we can’t do a damn thing other than declare Bankruptcy. Needless to say we don’t want to do any of that, and can make our payments so we just suck it up and try to over pay until we have equity again. What else can we do? Gonna take me graduating from AMU and going back to work. So we are looking at min of a decade stuck. JOY. But at least we are taking it like adults.
Wife has a friend in a similar situation. Except they live in Michigan and her husband works for GM ... until September.