Now that you have your dream home, what do you do when you find that you owe more on your mortgage than the home is worth?  While it may not make you feel better, know that you are not alone.  It unfortunately has become all too common.  So, what should you do? 

First of all, don’t panic.  There are options.  They aren’t convenient, and they will hurt but you CAN get out from under it with some gut wrenching decisions and much perseverance.

Take a look at your overall financial picture.  If you don’t have to sell your home, DON’T.  Hang on to it and wait out the economy.  The “guru’s” all seem to think 3-5 years for recovery and depending on how upside down you are, you may be able to ride out the storm.  Tighten your budget so that the ride doesn’t…

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