Is there any help coming for us homeowners that are upside down in our mortgage?

we are on time with our mortgage payment but it`s just frustrating that housing prices are going down. we have a 30 yrs fixed mortgage.Is there any help coming for us homeowners that are upside down in our mortgage?
Essentially if you are on time and still can afford the payments then you are viewed to be in ok shape. Even though house prices are down and you probably owe more on it, thats just the nature of the market and you are still committed to the loan. Now, many homeowners read the reports and watch the news and dread the statistics on the dropping prices. But, if you are not planning to sell your house, these figures should not mean anything to you. You bought the house to live in and you have to make payments on it; thats basically it. Right now there are no bail outs. People are forclosed on because they cant make payments. They are getting short sales because they cant afford it and could soon get foreclosed on. But they will take a large hit on their credit. If youre still on good shape, on time and still able to afford it, there wont be any ';help'; for you. That's the economy and these things just happen.Is there any help coming for us homeowners that are upside down in our mortgage?
Absolutely none, you will have to wait for the market to improve. You are on a fixed rate so your payments have not changed, just because the value is less that is part of the gamble of investment. As the market improves, and you continue making payments you will eventually not be upside down in value, you are just not going to make the killing you originally thought you would. Housing should be a long term investment, not a get rich quick scheme, which is what caused this whole debacle
In a word...no.





We already know you can make payments so you probably wouldn't qualify anyway.





Without knowing when and where you bought, it is hard to give any advice what-so-ever....





For what it is worth...I believe the markets will continue to hurt with falling prices (sorry). In time, several years in my opinion, the prices will stabilize and begin to appreciate at a 'normal' rate - hopefully to the point where you are no longer upside down.





You could sell now, eat the loss and call it a lesson learned.


Or.


You could hold on and wait for prices to stabilize and recover. This could be many years and perhaps never depending upon your particulars.





Stop thinking of your home as investment but rather as a home. Make the payments and enjoy your home. You are far better off the many...
You did not have more money in the bank when your equity was positive, and you do not have less money in the bank now that it's negative. You did not earn the money that you were supposedly ahead, and you have not lost the money you are supposedly behind. Unless you bought the home on speculation, the market value is meaningless. Be happy that you have a home and all the tax benefits that go with it. Remember, if everyone sells their home in order to cut their imaginary losses, the result will be continued deflation.