Hello BHW. When I purchased the house in 2001 (we built it) one of the first people in the subdivision so the cost was not as insane as it got into 2004/2005 and people asked us if we were interested in selling for 550K (should have sold). The house was purchased for 350K it was one of the largest lots in the subdivision but I was laid off and we looked that we wanted to move to another state also. The houses were selling for 160k to 170k, my wife and I decided it was very best solution to just sell the house. We hired a firm to market the house and to handle the shortsale. I didn't want to talk to the bank at all and what you don't know is I believe they have people inside of the bank that they give kickbacks to but I have no proof of this at all. They handled everything, they even found a buyer and it was fast. 3 months. So we are renting in Gilbert and looking at my credit reports and knowing how credit works and how to make your fico score increase it will be 24 months and my score will recover. Why did I post this, well things are hard all around and the horrible things that are in the paper. Killing your family because you might lose a house. REALLY? WTF? Pull yourself together! Tough times don't last but tough people do. Thats just your pride screwing with your mind. Tell it to piss off that pride if not a tangible thing that you can hold unlike your kids/wife/bf/gf/dog/cat. It is a huge weight off of my mind and my family, my friend walked away from his house when it fell 330K, OMFG! Its a house, its not your family, if you foreclose its really only two years that it reflects on your credit. And its easy to explain if you want to get a loan in the future. And then in 7 years it just drops off. Oh and if a collector ever calls you tell them piss off the statue of limitations has pasted you can't sue me so bugger off. I know lots about credit and collection agencies, I've worked for both early in my life and its been a very useful knowledge.