Divag,
If you have never missed any payments that is great. Renting it out would be a great option for you. You should be able to get $1250 for it. A property management company will typically charge abour 10% per month to handle it for you. You can either have them list it and do everything for you, or you can have a Realtor list it and you can handle the proprty management or you can do everything yourself. To do a short sale, you would have to be behind in your payments. Hopefully you will never get to that point, however, if you do, keep in mind that you do not have to pay the fees and closing costs, they are paid by the bank.
Please let me no if I can be of further assistance,
Pamela Peck
Realtor
Keller Williams Realty
pamela@kw.com
512-609-9877 - A few hours ago