How far upside down is too farI bought this house in 2003 when the market was topped it was so bad that when I was looking to buy, I would put an offer on a house and there would be 3 other offers on that housewhen I saw my house they were just putting up the for sale sign and I made an offer in less than an hour I owe 390K and its worth 270-290k 290 at best !!!I do not have a fanny mae loan so PHH will not redo my loan its a good rate of 6 % but I got married and my wife owns a house that we live inso the payment on this house is $2800.00 a month and im at least a 100k upside down. PHH ( THE Lender) does not want to refi or even talkso do I keep it or just let them foreclose on it.My other idea is rent it out on a month to month dont make the payment take the money and put it towards the 2nd of 14k and see how long I can play that game and maybe even make money off of it I know this will ding my credit but I just cant justify puting money in an empty holeany help appreciatedI will check back soonFebruary 23 2011 - Oceanside00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.