Rental property problem

[David C.]

Hello BP,

I am not sure if this is the right forum but I am hoping someone can help. 

A friend of mine is stuck. He owns a two family property that he bought as a house hack back before the crash. He has since moved out and rents both units but he is both upside down on the value, and market rents in the area aren't enough to cover the mortgage so he pays the difference. He doesn't want to foreclose and ruin his credit, and he can't refinance. My question is, has this happened to anyone else? And is there any reasonable and safe way to fix the situation? He makes a reasonable salary so he never qualifies for any of the govt programs...

Any suggestions would be greatly appreciated. 

Thank you