My home just appraised for what I paid for in 2003

[david_mcmanus]

So, in essence, I've been renting for the past 7 years, albeit at a higher amount!

[ira s]

David,
Appraised or assessed by the county?

[david_mcmanus]

Appraised. I'm currently refinancing.

[paco_serpico]

Ouch!

[ira s]

Hopefully at least your taxes have gone down a little?

[david_mcmanus]

They did go down a little, Ira, around 400 a year. It was weird to see the county assessment go up 100K in 2008 and then come down by almost the same amount in 2009. Something tells me they'll be up again next year.

My wife and I are considering moving down to Texas to be closer to family, but it seems like the longer we wait to make that decision and sell this place, the closer I would get to a short sale or strategic default. I've got an 803 FICO, have had that for years, and really don't want to destroy my credit. At the same time, I don't consider throwing good money into a sinking ship sensible either.

[Markor]

If there's enough people walk away your credit should be less impacted, since that would optimize business profits. I suspect there will be two credit ratings standard in the near future: one with & one without mortgage default.