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We bought a condo 4 1/2 years ago for $375K, put down 20% and owe $300K on the property that is appraising for $250K. We are current on our mortgage. My husband recently closed down his small business and we only have my income now. We currently have renters in the condo at a loss and are ourselves renting another property that fits our now larger family. The bank won't do anything to modify our loan to bring down our monthly payments and we need to get rid of the condo. What is our best bet to get rid of the condo and minimize the fall-out for us? Do we try to short sell it, do a deed in lieu, foreclose, what do you recommend?