Need help with 4 mortgages on Yedda - People. Sharing. Knowledge.

Need help with 4 mortgages

We live in No. VA and built a house in 2006 BEFORE we sold our town home. Then the housing market crashed. The town home is now rental property with 2 interest only loans ($450,000 and $25,000) and the rental income is about $1,000 short of the mortgages. Our primary home has 2 loans ($510,000 -interest only - and $90,000 fixed). Both properties are worth $200k less today. We make approx. $170,000 per year, no other debt, but want to sleep better at night and save more. Should we short sell the town home? Or pay extra money toward the second loan on the town home or pay extra money toward the second loan on the primary home? WHEW!

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