Bobert, my nephew and his wife lived in Michigan. When he lost his job with Dow Automotive he found another in Illinois. So...they packed up the two kids and moved to Illinois. Put their (mortgaged) house on Michigan on the market.

It hasn't moved in a year and they really can't afford to continue paying the mortgage on two houses. Sooooooo...they are thinking about defaulting on the Michigan mortgage and rebuilding their credit rating (which has been very, very excellent up until now) over then next few years.

You do what you gotta.

"No nation should be without a debt!"
             -- Thomas Paine