There are many programs available to home owners right now.
HARP, HAMP, HAFA and regular short sales, as well as Deed in Lieu of foreclosure, with foreclosure being the worst.
You can start by finding out all of the options available to you.
Many attorneys do free consults.
There are realtors who have been trained to work with homeowners like yourself, who find themselves in in pre-foreclosure situation.
You can refinance, do loan modification, do a HAFA short sale, regular short sale of Deed in Lieu (if worst comes to worst)...You can call your lender, explain that you are in financial hardship situation,
and find out about some of the options available to you. In some short sales, lenders pay your taxes.
In other cases, lenders will pay the seller to do the short sale (if qualified). Home insurance in FL is something that you don't want to be without though.
Whatever you decide to do, you'll probably be better off if you do it right away - starting from contacting an experienced CDPE agent (Certified Distressed Property Expert) in your area (you can find one on CDPE website). Renting while not paying the bank is NOT what you want to do (banks can persecute for it).
Hope this helps,
Irina Karan, CDPE
Beachfront Realty, Inc.