Legal Question in Real Estate Law in Nevada

If you short sell your property, you will have to leave upon conclusion of the sale. But you could also face a tax liability due to "forgiveness of debt." The tax issue is complex, so for more information, search "forgiveness of debt" at www.its.gov. On the plus side, your realtor will earn a nice commission check!

If you go through a full foreclosure, you may be able to stay in your home even after the sale date. There will be negative consequences to your credit score, but not anything significantly more than a short sale.

If any of your properties have 2nd mortgages, you may wish to get legal advice before making a decision.

Good luck!