what about the relo people who have to sell??? (real estate, credit, fees)

[NYMD67]

With all that is going on in today's economy,the bailout,forclosures,etc...
I think that whenever a for sale sign goes up in someone's yard,people automatically assume that those people are having to forclose or are close to it and are walking away....
In our neighborhood, there are several homes that people HAVE just walked away from and it is fairly evident.

However,what about the people who didn't go into a home that they couldn't afford,that didn't take a mortgage that was way beyond what they could actually afford and now have to sell because they are being relocated?
We are in that exact situation... we HAVE to sell,we are being moved out of state and most companies today ( that we know of,except for the big Pharm companies) are NOT buying their employees home as part of the relocation package.
Our home is only a little over 2 years old and it has decreased by approx $90K right now..... what about people like us who can't sell for what they bought for and may have to pay 2 mortgages for a very,very long time?
and can't really afford to do that without completely draining our savings?
I think it is "unfair" to say the least, and we all know that things aren't fair in this world,but to be a responsible adult who pays their mortgage on time,who doesn't do things above and beyond and now possibly may drain everything we have because of this entire situation is beyond frustrating...
so those that were irresponsible are getting off "scott free" (except they won't be able to gain any credit for the next # of years?) but be responsible and you will suffer.....

[grannynancy]

We are stuck - we just bought a house for 10k less than the original buyer paid in 2005. We bought our home in 2002 and I will be delighted if we walk out owing nothing. So you know the seller lost money on it because they have to pay the real estate agent.

6 years not ONE late payment.

I see the same thing with my parents who saved and invested every other paycheck and did without - now not getting things others who blew it all and wound up on medicaid [which my parents will never qualify for] get.

[mrs.coach]

We are in your exact shoes. Relo due to job change, company not assisting with any part of home sale/purchase, sold for less than we bought it for 3 years ago, paying own realtor fees, etc., etc. We have watched tens and tens of thousands of dollars leave our savings and listening to the radio today is not helping matters while contemplating a big "bail out."

Could be worse, though, right? We *only* moved to Florida....could have been CA or Vegas, right????????

[grannynancy]

At least moving to Florida right now you are probably getting a great deal on a home. I am dreading selling my father's house in Fla. [Thankfully he paid $35,000 for it in 1978 - we begged him to sell it in 2006 when it would have sold for 450K, now it is probably worth about 225K - and on main channel water]

[NatasNJ]

Was in the relo boat. Sold in TX. Lost about $20k overall. Just glad to be out from under that house. Figured it is worth taking the hit now then get stuck holding onto something that was draining me each month for something 1800 miles away.

Sucks. But I can't complain that much. I made a lot of money on the first house I sold so overall I am up a lot. But not at where I was in 2006.