[famousauthor]

My wife and I purchased a small home about 6 years ago. It was a piece of crap to say the least but we put around $30,000 into it for improvements. The house is mostly okay but we have a major problem. The house was built on top of a dry river bed which basically came to life after the massive flood in 2005. Since that time our basement sump pump has been running pretty much non-stop. We have gone through 3 different pumps and as of 3 hours ago, we need to buy our 4th. To top it off, every mud season our basement gets flooded. We can't afford to do any proper waterproofing because the prices are ridiculous to say the least. The flooding hasn't been awful in the past, but enough to be a pain in the a**. This year however the flooding is out of control and the basement is completely destroyed. Now to my question ... I want out of this house in a bad way. I'm sick of dealing with type of thing every year and the insurance companies are not helping us in any way. Does anyone have any experience in buying a new house and letting the existing one go into foreclosure? I understand that our nearly perfect credit would take a hit, but I feel it may be worth it given the situation.With the exception of the obvious credit hit, what are some of the ramifications? Would we be breaking any laws? Any advice would be helpfulThanksI have another question to add to this ...If we did foreclose on this house (after buying a new one), would there be any threats of losing the new house?

[Uncle T]

Its not illegal to stop paying your mortgage. Live there for free until the foreclosure.