Short selling might be your best bet. But before you consider this, do you want to sell? You can ask for a temporary deferment to work with you while you look for a job. If you don't find a job soon, and are able to resume payments, a short sale might be the best option. Depending on which bank you are working with, there are also, currently, some "cash for keys" moving incentives where the bank will pay you some money to cooperate with a short sale that will allow you to at least put a deposit down somewhere and get yourself set up in a rental. These programs change, and come up daily. If you do consider a short sale, then get a real short sale expert (everyone says they are, most aren't) â€¦. a full time Realtor who regularly attends the short sale updates and makes a point of staying on top of the daily changes in the short sale worldâ€¦.someone who knows how to get your best deal from your bank, and make the process no more painful that it needs to be.
There are lots of real estate agents on hereâ€¦Truliaâ€¦ check out their blogs, answers and what they have to say, and pick someone that you feel comfortable withâ€¦Interview a few at least. I'd suggest not going with the next agent who sends you a "short sale expert" post card or knocks on your door, UNLESS you can also Google them and find some good references, blogs, testimonials to support what they tell you.
I'm sorry for what you're going through - you're not alone,