underwater home - what to do? short sale, foreclosure, keep?After viewing and re-viewing 60 minutes story JUST WALK AWAY I have to admit that my eyes were opened to the fact that even though I love my home (purchased 8/08) it has gone down drastically in value/price. I need to make a decision based on a few new facts: in search of employment - current job ended however I am 55 and could feasibly retire ., Why should I stay in my home which I really can't afford any longer or at least not right now plus I have HOA payments. I really love my home. I've read not to get too attached to a home...that it is better to make a good financial decision for myself and my future. I am going to apply for ther HARDEST HIT STATES funds which can help the unemployed for up to 1 year until a new job is found but what if that doesn't work out? Wouldn't I be better off going for a short sale at least 120 days before foreclosure is set to occur and doing a deed in lieu of foreclosure and perhaps receiving some monies that I've heard many mortgage (and or banks...I'm not sure) are offering sellers to opt for a short sale. I'm confused and mixed with that is a little fear. Even though I feel I can find another job, I'm not sure I want to. It might be nice to live with a little less and not have so many financial burdons. I'm wondering if there are any other non-real estate folks out there experiencing my issues AND of course I'd love to hear from the pros as well. Life might feel a little sweeter even if living meant living in a nice rental home or apartment considering I am at retirement age (barely) and I probably won't be able to make any money off my home in my lifetime. It is a sad commentary on life today. The American Dream has become an albatross around the American publics' neck.September 03 2012 - Vacaville0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.