If you are not behind on your mortgage and your credit is good it can be a relatively short time before you can qualify for a new home in WI. It is not a quick process but I sell using a law firm that specializes in short sales to get you the best terms.
The other option for you could be a lease with option to purchase.This gives you some time to let the market catch up to the mortgage amount. If your tenants know they have the opportunity to buy the home it is possible they take better care of it.
Hope any of this helps. Feel free to contact me with any more questions.
Have you considered renting on a month-to-month basis, with the tenants fully aware that a sale maybe done in the future? This may not be attractive to many, but I'm sure a reduction in the market rate rent may secure a tenant.
Let me know if I could assist you in any way. Thanks Janel Williams Broker's Corner Realty 314-827-5478.
I understand you may not want to rent your home but the rental market is pretty strong right now.
I would not suggest a short sale unless you are in financial duress. It will ruin your credit for 3-4 years.
I have never heard of a lender doing a switch one short sale for another.
I would be happy to do a comparable market analysis on your home and see if there is anything I could do to help.
Get some advice on what's selling in your neighborhood within comparable size, condition and amenities, only then can you be for sure of what your current home may sell for determining if its a worthy option.
Unfortunately banks don't "trade" home for home.
With your address I can email you what's been selling in your immediate area. Give you an idea for sure.
Wish you the best!