Like many, I've tried with due diligence to do everything right.  BUT!, it doesn't matter does it?  Making mortgage payments on time and paying extra toward the principle  has not stopped my mortgage from going UPSIDE DOWN! Meaning, I owe more on my house than it's current market value. Over the past two years my home value has went from $210,000 to $171,000 and continues to decline. I owe $205,000!

We keep hearing the words BAIL OUT! At this point, I am wondering who is going to bail me and the rest of us who pay our bills on time out if I home value drops to the point paying the mortgage simply doesn't make sense anymore? Even if the housing market starts to regain momentum it will take FOREVER for my home to creep back up to the point I will have some equity.

There are 5 houses on my street which have basically been abandoned by the owner and is going into foreclosure. They just walked away from it. Okay, we all know there are consequences when you default on a mortgage, but where is the breaking point? At what point does it become reasonable to say, "Hey, I tried, but this is a lost cause!"

The bottom line...it's hard to be content and happy in an UPSIDE DOWN house. BUT, I guess an upside down house is better than no house at all.