Such a sad issue Julie, but many are in your same boat.
I can help you with making the best decision. How much is your property worth? How much do you owe?
How far behind are you on the pmts with the tenant running off?
Can you make up the payments and get current on the loan? If not, how many months behind would that make you? 3 months is usually the magic number most banks wait to start the foreclosure process.
The good news is that if you are in Lake Worth, Florida, we are the #3 foreclosure state in the U.S and it will take MONTHS before anything happens to you.... the bad news is that it will affect your credit and your stress level.
I know of some investors who will buy the property from you if that would help. You won't make any money, and it will be a short sale,, but it seems as if that is the situation you are faced with anyway.
If you lived in the house, there would be many other options to consider, but you don't. Email back the answers to the questions above, or if you'd prefer to email me direct or call me, I'd be happy to help you out. I don't work in Lake Worth, but I know excellent people who do and can provide you with some options.