If you are not having financial hardship, you may want to think about leasing the condo out. Right now, with our landlords, we are finding in RI that they are making between 35% and 46% over their mortgage on average when leasing. When you have rental income, a bank will take note of that when you are looking to purchase a new home. When you short sell (if they even let you), you could possibly find yourself with a damaged credit score and will not be allowed to purchase a home for 2 to 3 years depending on your exact situation. Feel free to contact any of the agents that cared to answer your question or you can contact my team and I directly at 359-2338.