Realtime advice request

[jenai]

Beignet, with all due respect, I have no plans on walking away from my house. I am not yet behind and have the resources to carry me for at least a month more. I wouldn't touch Coutrywide. Mine is a 5.75 conventional 30 year mortgage - 2% down through Wells Fargo. Payments of $725 for a 8 year old 1500 sq ft. 3BR 2B Brick w/2 Car garage & fireplace. Payment includes taxes and insurance. Certainly not a palace, but a far cry better than what I could rent for the same price in my area of the country. I live in the Dallas Metroplex The house on the corner with the same floor plan rents for $1100 with a $2000 deposit.

As I said earlier - I will succeed and am not interested in finding out how to do nothing, wait for a foreclosure and ruin my credit and pay the price in more rent for less house that someone else owns for the next ten years. I do not believe that any respectable lender would give a mortgage loan to anyone who has been foreclosed on in just three years, I was told it would be at least seven.That's a no brainer - just do nothing and "they" will handle it for you (haha)

I don't want to buy another house in three years - I want to stay where I am and build equity while the housing market recoupes.

I think Rolltimer had the best idea, I won't know until I ask the BANK - was just hopeing I would find someone here who has experienced and managed to survive a challenge like this. Thanks for the feedback everyone.

Thank you for your advice Rolltimer.