Hey there,
Just want to point out that you may be giving up some legal benefits by re-financing if you original loan was non-recourse then you endup with a recourse loan. What this means is you could go from a situation where you could walk away without liability to a situation with liability for the balance. But news today out of the senate suggests that cram downs may be on the way for people in bankruptcy. I'm thinking that this could and should end up being the best long term solution to get out of this housing mess. Deal with reality and get people out of these huge mrotages so they have money to spend instead of paying $3500 a month in interest
Mark