Anoka County is my neck of the woods and I am a short sale specialist.
From everything I have read it seems as though there is no recourse on this, so it just depends on what it will take to purchase another home. The only reason to do a short sale is because you A) Can't get approved for financing on two properties B) a foreclosure would drastically change your options.
I usually say a short sale is always better than foreclosure but you could be a rare case friend. Are you looking to buy in Anoka too? Just let me know when you would like some help!