Try advertising that you will owner finance with a wrap or contract for deed. If the due on sale clause is a concern, put the home in a trust and then sell it with owner financing the same ways. You could also do a lease/option within the trust (won't violate the due on sale clause). If you do that get first and last month's rent and a contingency fund or closing costs. Advertise this way: "Own your own home for first and last months rent plus closing costs". Hopefully some folks will respond and then find the best one and do any of the above financing methods.

Wait a minute Scott. Are you really ready to take on all the consequences of a deed in lieu? Not a great thing for the credit score. Let's think outside the box for a minute. Do you need the rent to be the amount of the payment or could you rent it for a little less and subsize that to make the payment? If you can be 10% under market value for a listing price, that might help also. In today's market you need to be the prettiest or the cheapest. Make a noticable price reduction if you can. Don't do baby steps. If you do a drastic price reduction buyers will take notice and it may create some urgency that causes multiple offers. Good Luck. Connie Rountree

Scott, I would have to agree with Keith, the correct place to start is your lender. You can request a short sale package and they will ask you about your world-wide income and assets.

Another option might be a 1031 exhange. I'm not a specialist in this, but it may be worth investigating. Check on the IRS website http://irs.gov and look for 1031 exchange.

I also suggest speaking with your financial planner and/or a tax advisor to see if you are able to write off a loss on the home.

In general, if you purchased your home within the past 8 years, property values have decreased below that purchase price.

Scott
You should first read my blog on short sales and foreclosures.
Second, know that lenders do not want to own your property, second home, or first home.
Third, if there is a short sale, the lender wants EVERYONE to participate in the "short" part of it. That means if you have other assets, they will want to know and may ask you to bring cash to the closing table.

The main thing is to talk with your lender about your problem. There are options that are short of foreclosures and short sales.
Let me know if you have any quesitons.