Many of those with underwater mortgages who treated their house as a investment came out nicely. Like a business would, they defaulted on their loan, then a few

Many of those with underwater mortgages who treated their house as a investment came out nicely. Like a business would, they defaulted on their loan, then a few years later put their saved payments toward a house down the street at half price. Even got another loan too. Of course this is more difficult to do if you need to move for work.