It has been on the market for 10 months and we now live hundreds of miles away down south. It is a nice Cape Cod with a mother-in-law addition in a nice neighborhood and we have dropped the price to 220,000 (after starting at 245,000). We bought the house for 239,000 in 2008.
Should we consider letting it go back to the bank? What would be the repercussions? Any ideas?