<prompt> Human: The house is in an oil city Fort McMurray, and due to the oil crash Ive lost a lot of money as the title says. My father bought the house for 530k a few years prior to me living in the home with him. I lived there cheap for one year before he told me that he was going to sell and retire early. The home was not selling as fast as he had hoped, so he approached me with the idea of buying it off of him for market value 585k and he would give 30k of the profit towards my down payment. I was 21yo fresh out of school at my first real job, and expressed concerns that I havent done any research into real estate and wasnt ready being so young. I told him I didnt want to work in this city for more than 5 years and would rather rent, but if he truly believed this was the best decision then I will trust him. He said that I should get a couple roommates to help with the bills, and that buying the home from him is the best thing to do. Everything was pretty rushed so I never sat down to crunch the numbers of buy vs rent. I bought the house, he paid a realtor 3500 in closing costs to finalize the deal, it was now mine. Everything was great until the crash. The house was valued at 620k in 2014 but is now 470k. Couldnt find trustworthy roommates since most of my friends got laid off and left town, or they were stuck with a big mortgage like me. Fortunately, I managed to keep my job.I have a detailed spreadsheet of overall home costs:192k went towards the home in the 4 years mortgage, taxes, insurance, interest, maintenance, etc112k was earned from roommatesWhich means Ive paid 80k rent in those 4 years average of 1000mo is 48kPlus 30k down fathers 30k to 10 down paymentOverall Im in it 110k, so farThere shouldnt be any capital gains to worry about come tax timeIm now unhappy here, and work has given me an opportunity to move close to familyfriends. I owe 470k and the value is at 470k. Renting the house isnt an option, it wont cover my costs and I wont be living in the same city. Due to closing costs approx. 21k and mortgage penalty 1yr early on the 5yr term 10k I cannot afford to sell. Ive already depleted my retirement savings and have been living paycheck to paycheck in hopes of the economy to turn around. Should I ask my father to pay the closing costs since he put me in this situation? Is it right to be angry with him if he doesnt? Open and use a line of credit? Bankruptcy? Need some help with this one please!EDIT: Thank you to everyone for the thoughtful replies. Lots to think about and options to consider. Much appreciated!Assistant: Another problem beyond the oil market shifting is that you initially overpaid for the house. It may have appraised for 620k, but if no one else would buy it at 585k then its value at the time you bought it was less than 585k. Because an items value is what someone will pay for it. If no one will pay 585k, it isnt worth 585k.Human: But by that logic OP was willing to pay the op amount making it worth that much.Edit: calm down people, you dont need to point out the obvious when 20 other people did so before you. It was an obvious joke or sarcastic remark if you want.Assistant: The OP paid that much because thats what he was told it was worth.Human: This. Plus I figured it would only hurt future resale value if I bought lower than the market value as per appraisals.  <response>: It really sounds like your father manipulated you into buying a house that he knew wouldnt sell at the price he wanted... 