You have a few choices. Stick it out and wait for the value to return. This will require you to continue to maintain the home and hope the neighborhood returns.
You can sell for a loss, write a check and walk away wiser but poorer.
You can look into doing a short sale, at the expense of your credit instead of your wallet.
If you consider a short sale, you'll need an agent with not only experience with short sales, but success with them. Many agents try, not all succeed.
Sorry for your troubles. I wish you the best in the future.... more