You have other options other than a short sale that may be more beneficial to you. There is a program called HAMP that will allow you to modify your loan and there is another process called Deed in lieu of. Either will depend upon your lender's approval however, those options are available if you are interested in retaining your home. If you choose the short sale way, that is a possibility as well. You can call or email me for additional information.
Katherine Brown MItchell Realty