Stop saying that they owe you the taxpayer. I seriously doubt you pay much in taxes, so your few thousand dollars does not entitle you to many more thousands off in interest. You bought a property and agreed to pay back a loan on that property so grow a spine and do what you said you would do.

BoA will not negotiate, they will make a lame excuse of negotiating and then dump the whole thing, they are the worst in terms of "bureaucrazy". Their track record is the worst of all the banks in regards of solutions for upside down mortgages

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From what I have seen I think BofA is very hard to work with, and they seem to take forever to get things rolling. Now if you are current on your payments, that will make it extremely difficult to negotiate. (If you can and are willing to take a hit on your credit, try going 1 month without paying (keep a 30days delinquency) or you start sending in payments you can afford (reasonable) and then you must call them 2 times a week (try to get to some people who are managers, they might be more flexible) Seems like if you bug them enough they might budge, however if you can't show financial hardship... you might be out of luck. As for the property being upside down (getting them to lower the amount you own them would be nearly impossible, my opinion) There are many ways to go about this, but non are easy and I don't know you whole situation, but a consultation with a real estate lawyer could be beneficiary. Also be aware of people who say they can easily get you a loan mod or something as they tend to get $ out of people and do nothing.

Wish you luck

Talked to a real estate guy last night and he said: That now if you want to do a short sale on your house the bank will work with you even if you have not missed a payment (before they wanted a delinquency of 30-60days) and if you are that much upside down you could have options. Make sure you get opinions from different professionals and make sure that anything you do that the bank can't get a deficiency judgement againt you.

(I am from AZ)

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