Has anything changed since you took this loan out? If there is a hardship you may be able to short this. You really have nothing to lose by trying. Your best odds to eliminate a deficiency and save your credit at least some is to try a short. Call a local realtor with experience with short sales - it sounds like a few are right here.

What a schister you make yourself out to be.
Posting up another web site contradicting everything you tell people. Don't you look to see what your web site says before you tell people to go see.. Do you have a web site for every answer! Still in there begging and ragging on your agent buddies. I thought you people stuck together.
I don't know how you live with yourself.

Just wanted to make it clear, because in todays world there are lots of people that will try to take advantage of homeowners that are "upside down" just as you are..
Therefore it might be hard to understand why someone would offer to genuinely help you save money.
I am suggesting a deed in lieu or loan modification, because you probably don't qualify for a short sale.
Both are easy to do by yourself, but should you need any help then contact me and I'll be glad to assist you.
Also I am telling you that most Real Estate Agents will suggest a short sale because that's where they make money. But if you don't qualify then you can't.
Check out the number of listings that I have and you'll see that I don't have to beg for business, all my clients come by referral, only because I help them in their situation.
Each one's situation is different, some people need to be able to stay in their home for as long as possible, because they are out of a job. In that case we will do everything to keep them in their house.
My main goal is to help people to get debt forgiveness and to avoid deficiency judgment.
Why do I do this? Because I've been there, that's all.

Anger and intolerance are the enemies of correct understanding.... Gandhi

It really amazes me as to how much realtors beg for business these days. This last clown is a real joke and makes no bones about it. He comes right out and says it "I would love to help you short sell your home, because that is where the money is for us realtors". Oh please, if business is that bad , I hear Mcdonalds is hiring.

I understand that you are still debating on the subject and are puzzled on what to do.
Especially with so many "experts" that advise you.
I don't think that Paul has ever negotiated a deed in lieu for one of his clients because his information is not exact. But that is normal because Real Estate Agents don't make money on deed in lieu. So why would they care.
I can tell you and prove you that I have successfully negotiated a deed in lieu where not only there where no deficiencies but also the bank certified that the clients personal guarantee was canceled in the process.
Of course a deed in lieu is considered a voluntary foreclosure and it will hurt the credit score more than a short sale. But what do you care about a US credit score? You're in Ireland.
I would love to help you sell it in a short sale, because that's where the money is for us Realtors, but if you don't qualify we'll have to look at other options.
Anyway, I just wanted to set the record straight.
Just note that time is your worst enemy and you should be tacking action.
Good luck.

I have to disagre with Christian on part of his answer. If you do a deed in lieu, it is the same as a Foreclosure. The bank can obtain a Deficiency judgment against the seller. That judgment will stay with the seller for 10 years and can be renewed by them for another 10 years. It is a sellers worst option, just like walking away and letting the bank Foreclose.
Also be careful of these Loan Modifation companies that charge a lot of $$$. Deal with your bank first, it will usually take a bank 2 to 3 months to go over this with you. If you get a denied a Loan Mod. the bank will usual tell you to Short Sale the property. KEEP THAT LETTER FROM THE BANK. The Short Sale Loss Mitigator you use will need that.

Thanks
Paul Antonelli
E-Pro Realtor
Coldwell Banker Ackley Realty
"Your Residential, Short Sale & REO Specialists!"
3264 Greenwald Way, Kissimmee, Florida 34741
Office: 407-846-4040 Fax: 407-846-3407
Cell: 321-443-4028
E-mail: Info@PaulAntonelli.net
Website: http://www.OwnAHomeInCentralFL.com
Local Foreclosures: http://www.paulantonelli.net/deals

Im looking to buy a home for me and my family. Im in a wheelchair since last year ,i got paralyzed from a fall. So moving to Florida from St.Louis. If you would like to sell it contact me at funnyguy337@yahoo.com
thank you,Lee

I agree with my colleagues that a short sole is your best solution because it is an option where the bank will accept less than what is owed and where the there won't be a deficiency judgment.
The only thing that they forgot to mention is that in order to do a short sale, you need to have a legitimate hardship. If you are making good money and just want to get rid of the property because it is not generating enough than it will be a hard sell to the lender.
In that case you might consider a deed in lieu, that is a so called voluntary foreclosure where you give the property back to the bank and the bank drops his claims against you.
This can only be done if there are no other liens on the property.
I am a foreign national myself who lives and works here on an E2 Investors Visa so I understand you position and I really suggest that you try and work with the lenders instead of walking away and getting foreclosed on.
As I have lost a ton of money in this real estate market I have started to work with my lenders on solutions and I have been able to give back properties in deed in lieu and also in short sale. Being a licensed real estate agent and a Mortgage broker I started to help others with my experience and became a public speaker on the subject.
Give me a call and Ill be glad to help you get that monkey off of your back!

A short sale will help but, because you are a foriegn national it is difficult I do specialize in Short Sales here in Central Florida. If you would like help with the process let me know I have personally helped dozens of home owners with this same problem and currently have over 30 files where in I do the loss mitigation work on. You can also see me on http://www.ThatShortSaleGuy.com
Thanks
Paul Antonelli
E-Pro Realtor
Coldwell Banker Ackley Realty
"Your Residential, Short Sale & REO Specialists!"
3264 Greenwald Way, Kissimmee, Florida 34741
Office: 407-846-4040 Fax: 407-846-3407
Cell: 321-443-4028
E-mail: Info@PaulAntonelli.net
Website: http://www.OwnAHomeInCentralFL.com
Local Foreclosures: http://www.paulantonelli.net/deals

A foreclosure will affect your credit. You can list the property as a short sale, which will not affect your credit as much as a foreclosure. If you need more information please E-mail me at BMBreservices@aol.com and I will be more than happy to explain your the short sale process.