So many variables...negotiate a short sale, selling subject to existing financing at very Buyer-favorable terms (to the extent this pencils after tax, obviously). Recourse/non-recourse loan (in what state, what kind of property). What might the lender do for your client?
Maybe it makes sense to try and stick it out until the best known tax year; if this is a distress situation there are many constantly-changing legal considerations.
Aug 15, 2012