1. Acknowledge that they have already lost X amount on the property. That is a sunk cost…done & gone.
2. Acknowledge that amount X is undoubtedly much greater, due to ongoing decline of 1 – 2% per month until sold, which may be many months.
3. Possibly prepare to walk, absorb the hit to credit, but begin getting liquid & prepared to do without credit cards, spend on a cash basis for many years, etc.
4. In light of finances, reconsider: Can this marriage be saved?
