You need to check with your lender first.
Tell them you need a short sale package.
You need to try to get the most for you home that you can. The best thing we can do is market the home, try to get offers, and submit the offers to the bank that are acceptable to you and see if they will sign off on them. They'll want to see your tax returns and financial statments to see if they will accept a short sale. If you have assets they may want them....like 401k, savings, etc. If you don't have any then they may take what they can get.