Have you talked to your bank? What do they say? When you say your "mortgage condo fee is more than we can rent for" I'm not sure what you're saying. Keep in mind the last thing they want to do is foreclose and buy it back at a sheriff's sale. They'd rather work out another solution with you. The sooner you talk with them the better. Why can't you sell the condo? Do you have any equity in the condo? What are you asking for the condo? Is it priced competitively? If it's worth less than you owe, selling it will be a challenge. The bank may approve what's called a short sale if you work with them. A short sale is where the proceeds of the sale are less than what you owe on the home. If the bank knows you have a hardship, they prefer a approving a short sale and taking less than what's owed, than having to buy it back at the sheriff's sale. Regarding renters, a management company can help with that. They screen tenants and have systems and process in place to help control that. They take a cut of the rent and charge fees each time the unit has to be rented to a new tenant. A local management company could be particularly helpful if your in another state. What is the difference between what your monthly costs are for the condo and what you can rent it for? Covering that until it sells may be a solution. Ideally you can stay current on your payments and, if you're underwater (owe more than it's worth) have the bank approve a short sale. As you miss payments and move through the foreclosure process your credit rating will take a huge hit, which will have a big impact on your ability to buy another home or get credit for buying a car or other borrowing needs. If, after researching your options, you feel walking away from your loan is best, signing over the deed to the bank in lieu of foreclosure may be the best options. Again, if you haven't already, pick up the phone and call your bank.