What are the consequences of defaulting on FHA loan?

I live in Missouri and I bought my home 5 years ago. This April, I refinanced the house through FHA secure to get rid of the ARM loan I had.

Since then, I am going through a divorce (house was mine before I met him, so he’s not on the loan), and my son has been in the hospital for a blood infection, that has caused me to miss a lot of work without pay. Because my husband has decided to wait for the court to order him to pay child support (the jerk), I have been paying for daycare instead of for my mortgage.

If I default on the FHA Secure loan, what are the penalties/consequences?

In MO, the law states that if you forclose, once the bank re-sells the house, they can sue you for the difference. However, my loan is FHA Secure, so the FHA pays the difference. Can they still sue me for my loan amount if I default? Or can/will the FHA sue me for it? In MO, if you short sell the house, they can’t sue you, as they are agreeing to take less. I do have someone that wants to buy the house, and it’s really the only way I’d be able to get rid of it otherwise. There are 9 forclosures in my neighborhood, and 5 of them are on my end of my street! Only reason the guy wants it is because he owns the lot next door, which is empty. Anyone out there go through this in MO?

Oh, and if your only answer is “It will be on your credit for 10 years, that’s the penalty” (Like almost every similar question I’ve read on this site), please don’t bother responding. This is always posted… FYI: I know that it’ll be on my credit, but it’s only 7 years, as per federal law… I want to know if they’re going to offset my tax return, or sue me for the balance, or if it’s written that I can never get an FHA again, or something like that…
Anjell: As per the Fair Credit Reporting Act, only a bankruptcy can be on your credit report for more than 7 years. And, I wasn’t being rude, I was just requesting that those who only had an answer that was telling me (inaccurately, I might ad) about my credit score, that they not reply, because I know how long it’ll be on my credit. That wasn’t my question

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