[TruthConquers]

Given that the bottom of the housing market hasn’t hit yet, and might not hit until 2015, that “matter of time” could be twenty years.

And I didn’t make any money because we never cashed out our equity. Not all of us acted like it is normal to treat your house as a cash machine.

[etcb]

While anyone in this situation probably can't do anything about the decreased value of their home, they can be aggressive in challenging tax and insurance evaluations. There is no reason to continue to pay higher property tax or insurance premiums than required based on the current value of the home.