If you are underwater in your home but are still holding on you have to think about a few key factors. You are living in a home that you probably will not be even in (owe what the home is worth) for another 10-15 years depending on how upsidedown you are. You can let the home go and rent for the next 3 years, then buy the same or a simular house for about what it’s worth now (if not even less). As long as you build your credit, save for a down payment and are able to financially qualify for a home loan in three years.

Loans are continuing to adjust and home values are expected to go down a little more in the next two years. Finally, three years from now, home values are expected to climb again but this time it will be a very slow climb.