Move into the flip and rent or sell your current house

Rent out the flip

Find more places to list the house: Craig's list, www.housingmaps.com, www.homesellersneeded.com/

Here's a book on foreclosures: http://www.amazon.com/Stop-Foreclosure-Now-house-c redit/dp/1425939546

You certainly don't want to foreclose because it would ruin your credit!

You can't get out of the investment, you just need to sell the property and unfortunately, the real estate market is awful and winter is not the hottest season to buy a house. So maybe you can try some more advanced methods to get the house sold. Some ideas:

1) List your house on every free list available - I always recommend craigslist.com, but there are literally hundreds, just do a google search.

2) Follow good staging practices - choose neutral paint colors and rent furniture (again very neutral) for your open houses. It gives purpose to the rooms and allows the buyers to see what this house could be for them. Also helps to define any unusual spaces, like a nook for a small office, etc.

3) Invest in good curb appeal. You can drive down the road and see a TON of houses for sale. You want to stand out and get people to stop and look - first impressions are very important.

4) Print out flyers to add to your for sale sign and have GREAT pictures.

5) Have a party at the property with potential buyers. This may intise people and set you apart from the crowd.

Sorry I couldn't tell you a way to get out from under the property - I know a few flippers having this problem and you just need to be creative in your sales strategy with or without your real estate agent.

Most people in this situation rent the house out. The economy and the market right now are not good enough to get potential buyers to actually buy. Good luck!