Finally finished Underwater Home by Brent T. White. Picked this up in the lunch room at work, laying on the free table. I was initially surprised to see no publishing information in the inside front cover. The book seemed like a self-publish attempt. It was a bit weird. Nevertheless I gave it a try and I was pleasantly surprised by how much helpful information it contained. Professor White lays out how to calculate your home’s value, based on current rental prices for similar homes in your area. He shares a lot of good information about different laws in different states and which ones carry a higher risk for being pursued by your mortgage company if you default. I appreciated his honesty and forthrightness about the fact he was not trying to argue for any one option (stay, default, walk away, re-fi, loan mod, etc) but just simply trying to lay out all of the options and encourage the reader not to feel guilty or shamed by the big lenders who try to milk the buyer of every cent, before working with them on the loan. I would have liked to see footnotes in this and more reference material within each chapter. Instead, all the references were under a kind of “For further reading” section in the back. That was odd.
Overall though, I found the book a good primer to the topic of “What are my options if I owe more than my home’s worth”. I would also recommend Walk Away by Doug French on this topic.