Has the value of your house dropped a lot? I know mine has! It was appraised at $306K in 2006 (cash-out refi to replace my car), again earlier this year (refi again, no cash this time) at $240K
, and an identical unit on the other side of the driveway sold last month for $192K. I make that a 37% drop over the last four years
. I'm nowhere near upside down on my mortgage, but I was counting on having enough equity in this house at retirement to replace it in my new location and have six figures left over in cash to add to my nest egg. Obviously that's not going to happen.