Before i did that, i would advertise on craigslist for a tenant who can afford some pf the payment. Or someone who could afford to enter a contract to tke the payment for the greater amount, or all of the mortgage. I personally am seeking a house in that area on a contract. the one i have in mind has a 200k mortgage, but the same model is much less. on a contract, i am aware of no equity that the seller has and the fact that i may be a long time accumulating any equity. But in the meantime, i have a wonderful place to live and enjoy. let' sface it you have to pay to live somewhere.

I agree with Don, A short sale might be possible. I live in Buckeye and if you want please give me a call to go over different scenarios that might help you out.

Don't walk if you can help it. Your own personal wellbeing and pride is also at stake. Don has great advice. You would be surprised. A good short sale or investment Realtor or real-estate attorney that deals with the bank direct can help. I don’t work your area but if you would like to contact me direct I can help.

You aren’t alone,
Brad

Consult your legal counsel and financial planner.

Period.

TAKE A HARD LOOK AT - The new law singed into law by President Bush that may allow you to refinance at 90% of your current value that starts October 1st.

REALTORS - Are not allowed to give legal and or financial advise.

BANK OWNED HOMES - Free list with pictures of foreclosed homes http://www.623Repos.com