What you are asking is the Inverse of the Rent or Own
question.
In this case Sell or Stay.
The Harvard MBA says “Run a discounted cash flow,
estimate your sales price today, in 12 months, in 36
and 60 months.” compare the cash flows.
Go with what’s best.
If you think the cash flows are going to continue
to suffer, get out. Why not, the banks did it to you,
all you are doing is socializing your loss.
in 2-5 years your credit will be fine. Just make sure
you have a lease lined up before you bail.
