You should contact your lender to request a short sale. You'll need to submit several things in order for them to consider a short sale. Your you'll need to submit a letter of hardship, and perhaps your bank accout balance. You'll also need a current opinion of value from an appraiser or maybe the lender will accept a realtor CMA. This will take some time and persistance to accomplish but it is possible. You could also do what is termed "a deed in leiu of forclosure". Simply put you give the house back to the lender without going through the entire forclosure process.