Explain foreclosure process (property, Connecticut, reduce, sell)

[KH02]

Could anyone explain this to me?
What is the downside?

What if you've already reduced the price of your house BELOW what you owe the mortgage company and it still wont sell yet you cant afford to keep it (though you can afford the mortgage what you CANT afford is the taxes implemented by the private association in which your house resides in)

We see no other option then to foreclose, though we would seek a rental BEFORE hand.

[heydade]

oh no. another one. What state are you in and we can lead in you in the right direction.

[KH02]

Connecticut

[formerLVguy]

My property is in Nevada, check out my thread...although I can't say we've gotten too far. So many folks crying foul.
foreclose or not to foreclose...