It makes absolutely no sense at all to keep this house. Your relative who recommends keeping it because the value might possibly someday recover is insane. It will be a long, long time before a house appreciates from 168K to 300K. In the meantime, you'll be spending $1,500/month plus maintenance and repairs for a vacant house in another state that you have zero use for.
Get out as soon as you can, lick your wounds and move on.
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Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
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