Upside down and want out!
Bought our home at the peak of the market for $150K. It's currently worth about $84K. We have no trouble making our mortgage payment so we aren't in dire straits that would require that we consider foreclosure or short sale. But, we want out. Our family is growing, the house is too small and it is SO frustrating. I see ads that promise to help underwater homeowners get out of their houses, but I'm sure they are too good to be true. I can't imagine they can appeal to the lender and ask them to forgive tens of thousands of dollars, without this having some impact on credit, etc.
My questions: Is it even worth checking out a company like this? And, if not, any suggestions on what we can do or steps we should be taking?