[quote=sdrealtor]FWIW SEH is nowhere near done with distress. i know several people there deeply underwater with good jobs planning to walk or short sale. One in particular has a great job but just cant justify being over $200K upside down with no hope in sight. The new homes selling without MR are putting even more pressure on people like him.[/quote]
I have witnessed this in some respects. I know people in my neighborhood are in still locked into interest only’s and they cant refi at todays low rates because they are underwater. Most of them arent thinking of walking but thats a tough pill to swallow.
