If I bought at the peak and my house went down 30% and I had no equity, I’d walk, no matter what financial situation I were in. If I have equity and want to protect it, that’s another story altogether.
Like I said, walking is an option provided by the loan agreement and is no indication of financial “responsibility.”
The financially responsible thing to do is walk, rent, then buy another house when prices come down. It’s possible to plan an early, orderly departure rather than wait for the Marshall to come and evict you in front of all the neighbors.
Working three jobs to keep a facade seem to me like the irresponsible thing to do. All your money goes to the bank and you have no time for yourself or your family.
Wow, this is kinda like Iraq now that I think about it. 😉