Did the lender file a relief of stay?
Do you want to keep the house?
If you were able to gain debt relief from your other obligations can you now afford to keep the house even though it's negative equity?
What would it cost you to move somewhere else and look at the math of the better option. Perhaps stay put because your monthly payment is affordable. IF you move you have to pay the moving costs and try to rent a new place with a bk on your credit profile.
This are questions that you need to ask yourself and your bk attorney.
Hannah Fliegel, FICO Pro
If you "recently filed Bankruptcy" - was the property included in that BK ? From what I understand, you cannot sell the property without permission of the Bankruptcy Trustee / Executor.
Best to confer with your BK attorney, they will know what's best.
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
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If you retained your home through the bankruptcy you should do everything possible to retain it or you will just add to your misery because foreclosure or any form of (short sale, deed-in-lieu-of) will just add to the difficulty of obtaining credit throughout the next 10 years while the bankruptcy and foreclosure sit on your credit report.
Read my blog on the Ramifications of Foreclosure, it will enlighten you.
Buy a home after foreclosure, bankruptcy or derogatory credit expert
I am REAL ESTATE AGENT specializing in the Metro Detroit area. I would be more than happy to help you with finding a local attorney that can help you with questions.
A real estate agent won't really be able to help you answer this question directly. The most competent person(s) would be a real estate attorney and/or your financial consultant, if you have one.
The best one to start with would be a real estate attorney. There are a number of competent and reliable attorneys available, which you can find locally. I also happen to know of a firm in Rhode Island, licensed in all 50 states, that can also help you and they'll provide a free phone consultation to help you determine the best way to proceed (short sale or foreclosure). If you'd like their contact info, please feel free to email me directly and I'll be happy to send their info to you.
Best of luck and I hope it all works out for you.