Underwater, but would like to moveI purchased (along with many people) back in 2004, thinking I would never lose money on a newly built home. I am currently sitting at around $18k (my estimate) to $64k (zestimate) underwater. Taking into account that the sell of a home will have about an additional 10% in fee's related to selling I could be looking at -$37k to -$80k just to move. Limitations:I cannot refinance under HAMP or HARP. My Primary lender refused to refi, and my secondary refuses to do anything unless the primary does something first. (ASC and BoA respectively.) I am not in financial distress. I live in Ohio so banks (I believe) can come after me for overages if I foreclose. I make enough to qualify for a second home if I wanted to. Reasons to move:The home has been out grown. I'm literally sleeping in the unfinished basement to make room for the family. The home is also in a terrible school district, and I want to get out before my little girl is old enough for school. (still about 4 years there, so breathing room.) The way I see it, is I can:1.) Save up 20% of the value of a new home buy the home, then 'walk away' from the old, or attempt a short sale. My credit is very good, and I'm reluctant to destroy it.2.) Save up 20% for a new home + the amount to try and cover the selling of my old home, and lose somewhere around the previously listed figures.3.) Rent out the property I currently own, and purchase new. Unfortunately my primary loan is 7/1 ARM that is flexing in the interest rates. My secondary is a heloc expected to balloon in 2015 and has a very large sum of money owed on it. I would need to pay the home down enough to refi (which I figure would cost me about the same as selling it.)Any new idea would be helpful, or perhaps throw a vote behind which of the 3 I listed you think is the best option and why.September 13 2012 - New Albany0YesReport 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.