Is there a way out of the house now? Anyway to get out without defaulting. If you think you will be in the same basic shape down the road as far as the house goes, it makes no difference.
If you bail now, its that much sooner you will have reduced your stress level and work load.
I bought in the bubble, put $50,000 down and another $50,000 plus in materials and my labor in rebuilding it literally from the curb to the back fence and sold it and walked away with $50,000
Why? Because I wouldn't walk with anymore now (5 Years later). In the mean time I stopped paying $4800.00 in taxes, water bills etc. I moved into our vacation home and winter down south. My point is that if you wont be much different down the road, do it now. Your net worth and earning potential may be better off.
Its a tough thing to give advice on but I also see the benefit that you are mobile. You can work anywhere. What if you bought a $8,000 TT or 5er and park it in a decent RV park for $300 to $400 a month. I don't know, would you still be swimming but not feel like your about to go under at the next crisis? Then you have the seasonal issue, its great down south in the winter but do you want to be there in the summer? Could you have residence in SD and pay someone to move the rig twice a year and just have one cheap car. You know, cut it to the bone. God I hate debt. But it is self induced, never seen an arm twisted up behind anyone's back at a bank closing.
