Not to throw a stone, but did the lender obtain an appraisal for this 30% equity? Is there any chance you can pay down the mortgage on the condo to hit this magical 30%? The lender is concerned you might buy and bail...in other words, once in your new home, you may suspend payments on your condo.
You might be able to hire a licensed appraiser to get a very accurate number? to work with, or better yet, request the lender to order an appraisal (you may have to pay for it).
Other than these ideas, the other posts list out your options well.
Best wishes, Jim
Source: http://www.zillow.com/advice-thread/Rented-my-Condo-Closing-Failed-at-Last-Minute/469716/
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