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If you can, sell your house to an investor, even if it's for way below market value--bankruptcy is one thing but you don't want a foreclosure on your credit rating if you can help it.
It's a shame that middle income housing has been abandoned by the government and people are cast to their own devices.
We lived in Manhattan in Stuyvesant town, a huge rental community for middle class working folk. It was safe, nice, and efficient.
Perhaps one mistake is the impression that every family should be buying a single family home. Not every family has the financial resources to do so even with prices at their former levels. It's not a sin to rent a decent place. Renters can have stability too for their kids.
If there were nice middle income communities available, new families would be able to get a start and save for their goals. Concentrating residents would also reduce commuting and cut our dependence on roads and foreign oil.
I do hope all families are able to do what fits their situation. However, folks need to be realistic and not expect their McMansion right after graduation.
Thanks you too. If I can help with anything once I am down there please let me know.
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