Sorry about your friend/co-worker’s situation, but really? Making 70K and financing 400K at 100%LTV. He should be so lucky to be able to walk away and not have to have to file for Bankruptcy too. I’d guess he’s got at Flat Screen TV, Furniture, and other assets that he’ll be fortunate to move into a modest rental. This just makes me sick……Bailout?……Bailout? It reminds me of Jim Mora talking about Playoffs? you know Playoffs?