I just wanted to get some perspective from you home owners.

I bought my home 2 years ago. Since then, the market has continued to go down around my area. I know zillow.com isnt the most accurate, but if I compared to when I bought and what zillow thinks it is worth now, there is a $59k difference. :wtc: When I did a refinance last year, it was assessed about $20k under what I paid.

I dont fully understand this "under water" thing with mortgages. My home loan is still less than what the home is valued at because of the down payment.

So I guess my questions are: Are you in a similar situation? How do you feel about it? Are you supposed to just ride it out until the market gets better? At what point do people consider walking out on the house because their monthly payments arent worth it?

(I am not considering doing anything, just wanted some perspective. Although a refinance looks tasty )