I brought A house and Now I Want To Give It Back

As everyone knows Michigan is in one of the biggest housing slumps in all of the us of a. I purchased my home in August of 2007 right before everything took a turn. Fortunately I have been able to rent my home out and ride the wave but others well not so much....

Yesterday I was talking to a friend of mine about wanting to give up her home because it wasn't worth what it was 2 years ago. Umm excuse me? is anybodies home worth what they paid? That is honestly not a reason to let your house go into foreclosure and watch your credit score go up in smoke just because you don't want to pay. I don't profess to be the most moral person but I will own up to mistakes I have made and attempt to fix them.

I think anyone who believes its ok to let their house get foreclosed on really needs to check themselves. There are people out here than really can't afford to pay due to a job loss or an illness, but when none of those factors play a part in your decision it really urks me. I personally don't like having to pay knowing my house isn't worth what I paid but the fact is I do believe the economy is going to bounce back and even if it doesn't I won't worry about it.

I would like to know how many people out there are willing to just throw in the towel would you? Maybe I am missing something but I just think its so wrong. If anybody has any logical reasons for this please fill me in...