short sale or foreclosure?

Posted by sandra on November 08, 2007 at 01:25:12: Wow, where do i begin? We are originally from Canada, moved to Michigan due to a work transfer on my husband's part. We arrived here on the premise that we'd be staying for at least 3 years with the option to stay indefinately. As it turns out, the economy had other plans for us and his company. We purchased a home in Michigan where now the value does not cover what we owe. We are being sent back to Canada in the new year and we have to have some resolution to the home situation. We've had the home on the market for over a year, continually lowering the price. We discussed renting but there is such an influx of renters that this isn't even a viable option for us. We have no real american assets or bank accounts to speak of and will not have any come the new year. Does anyone have any suggestion as to our best course of action. Thank you.
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