I have 2 rental properties in TX that foreclosed in 6/2010. I have $25K in CC debt. My home in Northern CA has foreclosure sale date of 2/20/11. I owe $350K on this home, but it's now worth $250K. I'm applying for a loan modification w/ Wells Fargo for this home. My salary is approx. $60K per year. I need advice on what is best for me at this time. Should I:
(A) Move forward w/ the loan mod and pay off my cc debt
(B) Move forward with the loan mod and do debt settlement on the cc debt
(C) Short sale this home and pay off my cc debt
(D) Short sale the home and do debt settlement
(E) File for bankruptcy and be done with all the above
Any advice is greatly appreciated.