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Her money comes to you through PRX. Hi everyone it's Kelly from Mailbag as promised here is this week's Mailbag and

a special Hayden Helps. Hope you enjoy.

Our first question this week is from Annie. I'm a 48 year old single female.

I bought my one bedroom condo in 2004 for $159,000, which looking back I paid way too much for.

It is now worth $70,000.

I still owe $130,000 on it.

I know.

My house payment is 40% of my take-home pay and I make 44,000.

Also, my drive to work was four miles, but now it's 30 miles after my job moved this year.

Should I do a short sale or wait it out?

Boy, oh boy, oh boy.

I would probably look into a short sale at this point,

although I'd also look into the idea of renting this place out if you're allowed to do that.

In some areas of the country rents skewed differently than sale prices and you may be able to come

close to meeting your monthly nut nut and if you can do that

and then rent something else cheaper that's closer to where you're working now that can be

a win-win. The other thing to know though is that if you do sell short you may get hit with a big

tax bill for the difference between what you owe and what you sell for because that can be treated like income so just be prepared.

Good luck Annie. Let us know what you decide on doing and our final question this week is

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