I owe more than what the property is worth

[Philip Dalhausser]

I bought a place in Southern California at possibly the worst time in 2007 and I owe more than what it's worth. I moved out in 2012 and have been renting it out since. I have only been making interest only payments because I make about $200 a month. I have a 5 year arm and that ends next year. Should I keep making interest only payments and hope the value of the property increases or.....?? I know there are a lot of options but I'm not sure which one is the best. Any guidance would be great! Thanks!!