Dealing with foreclosure

What is a way of dealing with foreclosure on my construction loan?
I have run out of funds on my construction loan to finish the property.
My two mortgage payments on a construction loan and house i am currently living in are totals about $8400 per month. I can not afford both payments so I am considering to foreclose on the house I am building.
From what I hear dealing with foreclosure is not a pleasant time. Hope I do not have to deal with a lender located outside of our country.
I am looking for options.
Appreciate any thoughts.

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