Is it better to own...? a home even if it means three mortgages or rent until you
Answers: I don't really read between the lines your question. This is a buyer's marketplace. So if you're looking buy then this is the time. Mortgages can be cheaper than renting. So if you hold the ability to buy, why rent?
Can you put on the market the house without a loss?
Are you keeping up beside your mortgage payments?
If you are still keeping your head above the dampen, I would get another position and bite the bullet to keep the house.
If you are truly going below, you could cut your losses short before it get worse (foreclosure wouldn't help your credit at all).
Good luck!
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