OK 23109VC, your last post tells me you’re starting to think like an investor. Cut your losses and make the right move going forward. You just learned a great lesson. Your strategy sounds very logical to me. (Look into the tax implications if you default. I believe you’ll owe the IRS money.)
2009 could be an all-time disaster in CA real estate. Best not to be in it.
$140K/year, good on ya! Now use what you’ve learned to turn that into some real money in the future.
Also consider this…how many investments would let you get away with defaulting? Most people would just lose $200K in a typical venture…OUCH!!! I gotta believe that next year there will incredible amounts of non-payments on mortgages. But I doubt the lenders will be forcing the foreclosure process. They’re screwed.
