First you have to do is contact a good mortgage broker who you can trust for refinancing. If refinancing doesn't work for you then try to loan modification if you still have job and income to support the payment. If none of the above work then you have to sell your house as soon as possible to get that profit amount (you have mentioned that you have equity) before the property value goes further down.
To check whether you have still equity, contact a local realtor who can generate a market analysis for your house to get the estimated value, if you house value is more than you owe then you have equity otherwise it will be a short sale if you are planning to sell.
Certified Short Sale Specialist