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Age old debate - underwater on mortgage
I am new to this board, so please forgive me if this is asked constantly 
.
Like so many people, DH and I are upside on our mortgage. We bought our townhouse five years ago. Houses in our neighborhood are currently selling for approximately $30K less than we owe (and about $50K less than what we paid for ours to begin with).
We planned to stay in the house for 5-7 years, and still may, but a few things have been driving us batty lately so we are giving some serious thought to moving sooner rather than later.
Onto my question, how many of you have been in this situation and opted to sell at a loss? Were you able to "roll" some of the loss into your new loan on the new home? Or, did you have to come up with cash to 1. get out of your old home and 2. put down on your new home?
Just looking to hear from people who have been in this position, and opted to take the loss for a new house.
TIA!
Re: Age old debate - underwater on mortgage