Is foreclosure worth it?

In financial trouble due to escalating medical, mortgage, and other bills. Is it better to attempt to pay my way through this crisis? I already have my house, which is an investment property, up for sale. It isn't going anywhere soon, the real estate market here is in the tank. I don't think it is sound finanicial sense to continue throwing money away in an attempt to keep the place. I have great credit, but also don't think it is smart to max out my cards to try and save the place. Considering turning it into an LLC, but don't really know how it works yet. Any advice appreciated.