We had a condo for rent, but the rental market has sunk to the point where it is a losing investment. We have listed the property for sale, but in a few months will not be able to carry the mortgage of the investment property. If the property does not sell before then, we may need to do a short sale (if the bank agrees) or worse, deal with foreclosure. To plan for a possible worst case scenario, should I consult with the bank now or wait? Should I meet with my CPA now? Is there value in meeting with a real estate attorney, too? Obviously money is tight, but I want to be prepared.

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