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<p>[QUOTE=&quot;Cloudsweeper99, post: 1616290, member: 3011&quot;]Even a lot of homeowners who are underwater are not in bad shape as long as they can make the payments.&nbsp; The house payment may be as high as a rent payment on a similar property, they are getting a tax deduction, and at the end of the payments they will still own the asset free and clear.&nbsp; Everybody has to live someplace, so a drop in the value of a house when you go to sell it is offset by the lower price of the house you buy to replace it.&nbsp; The damage is frequently more psychological than real.</p><p><br /></p><p>If a homeowner can&#039;t make the mortgage payment, they probably couldn&#039;t make the rent payment either, so they are no worse off for living in the house and still enjoy the benefits of home ownership.[/QUOTE]</p><p><br /></p>

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