I’d rent the place to a friend at a greatly reduced rate while you go through foreclosure. Keep him/her informed of whats happening and chalk it up to experience.
We are long past the point where paying your mortgage on an underwater dinosaur is the right thing to do. Those who suggest you do that are clinging to a deeply flawed ideological framework. One in which our leadership and society have set a reasonably level playing field and rules will be followed.
You are kinda screwed in what you bought and where, so just take the credit hit and move on.
Josh
