[Loss.Mitigation]

Short sales arent moving very well and It doesnt look like you can sit and watch the house not sell, In this market to stay away from Bk and not go under I would rent the house for a fair monthly, you might come out of pocket a little but not as much as you are now and if you can stay afloat for a year or so with the rental income you may be able to sell the home then.

Good Luck