Instead of attacking the realtor on the website most of you need to learn to face facts. If someone bought a home between the second half of 2004 and 2007 then they are likely going to be foreclosed on. When you buy a house in California (and you don’t refinance or take out home equity) then the loan is a full collateral non-recourse loan. That is you lose your house to foreclosure and the lender gets your house and nothing else. They are entitled to nothing else( they can’t come after your bank account). Now if you buy a house for $700000 and you can’t afford to make payments then it would be better for you to let the house go. Buy the same house for $425000 and then the bank will get their money (because you can now afford it) and you will get your house and everybody lives happily ever after. ALSO, a word of warning anyone out there who paid WAY to much for their house and you are on a 3/1,5/1 ARM or anything like it and you are scrambling to refinance. DON’T DO IT! If you refinance the bank can come after additional assets. Let the house go and start over again. And any of you who inherited, bought a house (a long time ago) for really cheap and you are renting homes for tasty incomes and/or you are paying $20 a year in property tax because of PROP-13. And you aren’t interested in buying a house at current valuations then SH&! the F%^& UP.