I own a home in michigan and have two mortgages out on it. I am trying to sell my home in michigan and it has been on the market for 5 months. I owe 95,000 on it and my realtor wants me to try and sell it for 50,000. I bought it at 120,000. I have recently been relocated to Ohio (signed on for at least 3 years) and am wondering if I should rent an apartment instead of buy another home. I am thinking of foreclosing on the home in michigan and if I do that my credit won’t be good enough to buy a second home right away. I am approved for a second loan of 100,000 on top of what I owe on my first house. Should I buy another home in Ohio and foreclose on the second (in Michigan) and what are the repercussions of doing so. I am thinking of hiring a real estate lawyer to help me with options. What do you guys think?? Any ideas?