Losing 2K a month on one house

[Jay Hova]

I helped my parents buy a house few years ago. Everything was going well until my father took ill. Now they can no longer afford the house. I have been paying the mortgage, however for the last 15 months I have been losing 2K per month (with it rented). I put the house on the market (Tampa, Fl) but it just sat for a year. I ended up dropping the price to just what is owed, and it still sat. Not 1 single offer. The house is showing against my credit, and with my parents unable to pay (and the rent I get leaving a big gap), I am no longer able to prove to banks they pay for the house (which means my DTI shot through the roof). Not only that but losing this kind of money, has made me SERIOUSLY slow down on new investments. If I can't sell the house should foreclosure be an option? How bad would that hurt my credit, if all other mortgages were in perfect standings? Any other ideas?