Hi Linnzy,
I so know how you feel. My heart goes out to you. Something else you may already be aware of but was a HUGE factor in our decission is this: If the Gov't buys the loans - they will FOREVER get at minimum of 50% of your future equity. So lets say they step in and you can now afford to stay: For the 1st year, if you sell your house, they get 100% of the equity, 2nd year 90%, etc. At 5 years it hits 50% and STAYS THERE FOR EVER. Bascially, they become your co-owner. Another reason we couldn't stay. We're 50ish years old, can't afford to share our childrens inheritance with uncle sam, you know?
I know too well the emotional rollercoaster you are on - its a bumpy ride, isn't it? One thing I can tell you is, once you've really made your decission; gathered the facts and decided what you're going to do, it seems to get better. I don't know if you've read my other posts on other threads, but I cried everyday for about 3 months - then only every other day for about 30. I finally
knew what our decission was and started planning for it. I'm not saying its a cake walk now, but it does get easier.
Hang in there. Some of us have a chat under the lounge blog "New Friends Chat" where we talk about our day, the kids, etc. Feel free to join us there too, it really helps. We're all here for you.
pjd123