One of the necessary ingredients to doing a Shortsale,
is submitting a Hardship letter to your Lender and having them approve doing a Shortsale:
It sounds like you do have a hardship; just being Upside/Down is not sufficient.
In addition, if the deficiency isn't great enough, you may be ill-advised to do a Shortsale, but rather, ride it out.
I would advise you not to get delinquent on the HOA fees; they have no tollerance.
Perhaps if you talked to the Lender and asked them to modify the loan, or at least move some payments to the back of the loan.
To get the Bank to listen to you regarding a Shortsale, you have to be behind on your Mortgage; are you? I hope not as this is a point-of-no-return.
Good luck and may God bless