Have any of you "walked away" from your home mortgage yet?

Hi, all,

I was just wondering if anyone out there has "walked away" from their home mortgage in our current housing crisis?

If so, did it hurt your credit? Were you able to rent an apartment afterwards? Did you call the bank first? Did you try to do a "deed in lieu of foreclosure" or a "short sale" first?

What was your experience like?

I've never been able to afford a home of my own, but I'm sure a lot of people will be able to answer you. I've been wondering how people have been doing myself.