What is cramdown legislation and how would this help me?Is it worth while to wait a month and pay my mortgage? My condo has devalued from 467k to 390K. My lender is Bank of America. I put 10% down and I have 2 loans (88% in amt of 5.25-5yrs ARM and 12% amt of 7.25-5yrs FM loan type).I want to walk away but I'm afriad of bad credit on my excellent credit score. I have a good job and decent salary so I don't think I qualify for the loan modification.This condo supposed be a short term (5yrs) investment but now, I'm 16%-18% under. What should I do?March 12 2009 - Sterling00YesReport 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.