I am in a similiar situation: I bought my current home 6 years ago for 270k. I put about 25k down, have a 5% fixed 30 year loan, my PITI is just over 1500.
Now the problem: I estimate the value of my house at about 170k, not including selling costs. The neighborhood in those 6 years has become about 50% rentals and in general decline IMO.
Like TG, I made mistakes in the past with Real Estate (selling properties that I should have held) – now I don’t have a pot to piss in or a window to throw it out of.
