H1B 7th year extention Urgent

[kajal09]

My H1B 6th year is going to be completed on December 15, 2012. Unfortunately my labor got denied recently so would you guys please help me with my questions.

1) What are the option I have now in order to continue my stay in United States?
2) Assume that I change my status to F1 from September 1, 2012 which makes 3.5 months available on H1B. Moreover, my employer is going to refile PERM and then I-140.Having said this, once my I-140 gets approved can I again change my status back to H1B as I would be having 3.5 months left on my H1B with approved I-140.My employer is ready to re-hire me as I have long term relationship with him.
3) My wife is on F1. Can I change my status to F2 from September 1, 2013 so that I can have 3.5 months left on my H1B. Here my question is once my I-140 gets approved, can I change my status back to H1B.
4) Which option is more suitable and effective?

Please help in clarifying my concerns so that I can make solid decision.

[shervin143]

1) What are the option I have now in order to continue my stay in United States?
>>> (1) File a new PERM with the current or a new employer a hope PERM and I-140 get approved before the end of the 6th year. The chances of this happening is very slim. (2) Leave the country or file a COS to any other valid status with few months left on your H1B 6 year limit. Let the employer proceed with the PERM and I-140. Once they both gets approved, you can recapture the remaining time in the H1B and also file the 7th year extension.

2) Assume that I change my status to F1 from September 1, 2012 which makes 3.5 months available on H1B. Moreover, my employer is going to refile PERM and then I-140.Having said this, once my I-140 gets approved can I again change my status back to H1B as I would be having 3.5 months left on my H1B with approved I-140.My employer is ready to re-hire me as I have long term relationship with him.
>>> Possible.

3) My wife is on F1. Can I change my status to F2 from September 1, 2013 so that I can have 3.5 months left on my H1B. Here my question is once my I-140 gets approved, can I change my status back to H1B.
>>> Possible.

4) Which option is more suitable and effective?
>>> Option 2 will be expensive. Option 3 is cheap.