Try @Brandon Hall or @Linda Weygant, both of them are regular contributors here. 

It seems the tax gurus of BiggerPockets are @Brandon Hall and @Linda Weygant so I hope you don't mind me tagging you here. 

You should be able to try a loan mod even if you are current with payments and have a hardship which you do.For instance you could get a 7% loan turned into permanent loan modification 2% fixed for the first 3 years,then 3%,then eventually fixed to 5% for the term of the recast loan.It just depends on what programs your servicer has to offer you.I would try this option to preserve credit first.You have to be very diligent in the paperwork and it can take months and months to get it approved but I have seen it done.That would be my first step is to reduce your debt service and lighten your load.There is also talk of a TARP 2 funding from the government that is in the works that would allow a wright down for underwater borrowers on their mortgages.This is out there but has not been approved yet.After a refi you could rent it out for the lower debt service and move to area closer to your job to save on gas costs and have more time with your family.I have seen others do this and it works out well.Then wait years for the market to come back and sell.If you screen the renter properly you should be fine.In a short sale if you decided that the bank pays the commission.Just makes sure in the listing agreement the commission payout is subject to bank approval.This way if you sign for 6% and the bank only pays 4% you are not on the hook for 2%.You can just do a "deed in liue" of foreclosure and give the deed back to the bank if they accept.DIL,short sale,are not as bad as a foreclosure on the credit but you still will take a hit but a smaller one.Try that loan mod first.Good luck.No legal advice.

@Linda Weiner I would definitely suggest doing a bit more research on it!

@Linda Weygant when and where is this next meeting?

@Linda HastingsThanks Linda.

@Linda Hastings.

@Linda Wang here was the last one https://www.biggerpockets.com/forums/521/topics/44...its will be at the same location every 2nd Sat if the month.

I’m in the military and am hoping to get a place while I’m stationed at Wright Patterson.

Thanks for the referral @Linda Hastings.