Also fyi some lenders are finally reducing the principal balance owed. This was NOT possible in the past but some of the lenders are taking the money they are required to payout from the Robosigning fraud and are now selectively reducing the balance by as much as $100k for mortgages they are the investor on. Most of the time the "investor" that actually owns the mortgage is not the company you make your payments to.
You can lookup to see who truly owns your mortgage by calling the company you make your payments to. If it's the same then you may have a good chance of reducing the amount you owe on your condo--especially if it's Bank of America. B of A cut a sweeheart deal to allow them to use the money they are suppose to payout and can lower the mortgage balance on their own "at risk" mortgages. .
Also you may want to consider doing a Deed in Lieu or a Deed for Lease. You will probably have to pay very high rent once you leave your condo so make sure you explore ALL off your options.
Go here: http://www.MakingHomeAffordable.com
All the best,
Alma Kee http://www.SoldOnTampa.com