Buying new home when you owe more than value of current homeWith the drop of housing prices my home (according to Zillow) is now worth 20-50k less than what I still owe on it. If I raid my 401k, I could probably get 3% down on a new house, but still owe the difference on my current mortgage. I'm going to hold out for a top price on my home, since I don't need to move, I would just like to. So I'm hoping to owe less than 20k on my current mortgage after closing. Are there any kind of programs that would help me out in this situation?February 21 2012 - Sykesville00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.