Advice anyone?

[Tatetytiffany]

I posted several months ago about my house being in foreclosure. Turned out it was the mortgage companys attorney that had screwed up. The judge sent a letter last month saying he was going to dismiss the case if they did not reply. Well of course they replyed and summary judgement should be held early September with the sale probably sometime in October. Heres where I need help. Filed chapter 7 in 05 included house and did not reafirm. Bankruptcy discharged in Nov. 05. I owe first mortgage 166 and second 25. Had a real estate agent to the house today and she said the house in current condition (which I didn't think was that bad) would sell somewhere between 155 and 160. Should I even attempt a short sell? Or should I just let the house foreclose. Currently the first mortgage is reporting no balance and included in bankruptcy. The second mortgage is reporting nothing because they bought this in Dec 06 after the bankrupcty had taken place. The original 2nd is reporting 0 balance and included in bankruptcy. Most people have told me 2 years out of bankruptcy you can get a decent mortgage. If a foreclosure shows up I am screwed another 2 years. Any advise?
Thanks

[poorme]

The banks would have to approve a short sale, and given that you owe more than the house is worth they will try to get the difference, somehow. Good news is you can just walk away. A short sale, done right and done quickly, will net you even less than your realtor is quoting, making the problem worse.

Have you considered a Deed in Lieu? Just hand the deed over to the bank and avoid the foreclosure?

[Tatetytiffany]

Deed

Haven't considered that. Didn't know how it would work since I have two mortgages. Thanks for the input.