What are your options?                                                          

     1. Try to sell to a cash buyer. They have so many opportunities that you'll probably be offered about 70 % of today's market value.  That may mean that you have to
bring a lot cash,  $10,000 to 30,000 to the closing to pay up the balance of the mortgage deficiency or shortage after applying the buyers money at the closing.

     2.  Do a short sale. You typically get nothing for your self, wait 6 mo to close. Probably have to prove you can't make the payments. The lender will ask for an
income and expense statement plus an asset and liability   If you cant prove it, your lender might want your cash or at least will require you to sign a note and start
paying on it

    3. Walk away, let the lender foreclose. This may be the worst choice. It ruins your credit for a long, long time.

     4. Rent it hoping that in a couple of years the market might improve. Will the renter trash it? Will you get enough rent? Will the market ever come back? Most Owners
 I meet are amateurs at being a landlord. They inadvertently choose someone who has the money but in the long run is a big problem.


     I am sorry, but I dont like any of these any more than you do. Life hasnt been good to you. What I think you have to ask yourself is which
of these is the least bad?  Call me 937 387-8909.
    
     I have known of many homeowners who tried a short sale. Yes, some of them succeeded after five to eight months, getting it accomplished. Most didnt get even a
 penny at the closing. One got from the lender $1,500 moving money. In one or two cases they got a 1099 from the lender and on the next years income tax return they
 had to report as additional income the amount that the lender was shorted, and pay tax on it. In certain cases I would expect the lender to go after a deficiency judgment.

  Still have more questions? To ask YOUR questions and get straight forward answers, call me, and lets talk. 937 387-8909. No obligation or charge.