Thinking of walking away from a mortgage?

by eyewash
Question by NCC1701: Thinking of walking away from a mortgage?
Hi all,

I own an investment property in Florida. It is currently rented out with a lease expiring in October. I have substantial negative equity (approx $ 100k) and also have substantial negative cash flow of about $ 800/month.

Both me and my wife are listed as owners and are on the mortgage. We both have perfect credit. But the monthly negative outflows are a major drain and we are thinking of walking away. I was

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