Hello Irma, I have help numerous families to avoid foreclosure with shortsales. You might want to see if you can get a preapproval first and see if you qualify, if you dont you have a better idea of whether you should shortsale or work on the credit. As a real estate Professional I have had to get the values of properties for the banks, before deciding on what you want to do you should way your options, there are many factors that come in place when trying to buy a home while still owning one. if you are upside down on the property you now own, you might qualify for a new home loan, the bank have stopped lending to people that own property's that are upside down due the many were walking away from the property's the owned to move in to the new home.
If you would like to sit down and discuss your options my team and I would love to help you, I have a lender from Wells fargo Bank that will sit down with you and give you some options.
let me know, and have a great day.
Intero Real Estate Services
HAFA Shortsale Certified