djrobsd, thanks for sharing your experience. I think that the hardship package that you have to submit clearly indicates that lenders don’t roll-over and will not agree to loan modifications until owners are at their last penny.

The only reason I gave you a hard time is that although you arguably are a victim of real estate, you continue to evangelize on the “benefits” of owning.

Didn’t you learn anything from your experience? Buying is bad for people who can’t afford it. They may wish to own but they should not until they build a financial cushion and the financial discipline to buy a house.

I know a woman who just lost $100k on an investment house. She still thinks that prices will go up next year and pay her back on her current residence. She has another hard lesson to learn. I expect to eventually see her in foreclosure.