Have the lender agree to a short sale.
Most lenders, banks, will allow a Short Sale, however if it is in the foreclosure process they want to see a ligitimate Purchase Contract to stall the Trustee's sale. It takes some doing, but it is very doable.
Provide access to fast/easy/cheap financing to a prospective buyer...and advertise that you can provide this.
Get advise from Commercial broker in your area and get an idea of how much you can sell it for quickly. Hopefully this covers your loan amount and you get some cash on top of it. Many times the broker may have a buyer looking for the exact property you are selling so you may get lucky. I will be glad to help if you have questions: Tom Nguyen tnguyen@naicapital.com
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