There are companies that can jack up your house so you can get out from under it. Are you trapped under there?
Do you know how you got under your house? If so, can you crawl back out the same way?
Do you know the meaning of 'promissory note' and 'deed of trust'?
Okay, I'll admit that I'm just kidding around. But seriously, you need to consult with an attorney and an accountant. Do NOT take the advice on a public forum where you do NOT know the crediblity and accuracy of the people responding to your question.
All the best!
Read the Arizona Short Sale Advisory published by the Arizona Department of Real Estate. This discusses all the options like loan mod, foreclosure, deed in lieu of foreclosure, short sale etc. The publication also provides more resorces. For a copy see the link on my website for Short Sale Advisory. http://www.arizonahomesland.com/forsellersorlandlords.html
May I wish you the best.
Jeff Masich, Realtor
Arizona Homes and Land
Talk to a neighborhood specialist or those on this board.
Understand the pros and cons of a Short Sale, etc. etc. also consider talking to a RE Lawyer.
You need to be able to prove hardship...that means being insolvent (unable to pay your bills).
Take these nice Realtors up on their offers. Talk with them. You may qualify for a short sale, you may not. But you need to know your options, and to find out you'll need to share confidential information.
PS moving just because you are upside down is not going to work.
#SHORT SALE, FORECLOSURE, AND OTHER OPTIONS -Get Help in Arizona
Facing foreclosure is scary but, you have options. Learn how to talk to lenders. What is best for you, renegotiate your loan, do a short sale, give the bank a deed in lieu of foreclosure, facilitate foreclosure, and yes for some cases plan a bankruptcy. Then see how to restore your credit quickly to get into your next home. (see http://www.arizona-dream-homes.com/ShortSaleandForeclosureHe for details)
# SHORT SALE STEPS AND PROCEEDURES
Learn about the paperwork requirements and procedures to successful negotiate a short sale.
#FINANCIAL CONSEQUENCES OF A SHORT SALE
When lenders do not receive all the monies due on your home loans they can handle it in various ways. How they handle it determines the consequences you will experience for nonpayment. We discuss the most common consequences on the following webpage . The lenders most obvious choice is taking the house back via foreclosure. You can also offer them the deed to the house in lieu of foreclosure. Know that taking your house back is not their preference. Short sales can work to both parties advantage. Note: If a Short Sale is not properly handled by your agent and advisers you could still owe large amounts when all is done.
You will also find more short sale information at the link below or call me if I can help.
West USA Realty