Did you ever occupy the home as your residence, or has it only been an investment property? Either way, you could pursue a short sale. It is possible your lender will agree without the mortgage payments being behind. You could sign a promissory note for the deficiency, this would avoid ruining your credit. If it was a primary residence, you could get the deficiency waived. I would recommend contacting an attorney in Florida, and a shoet sale negotiator to discuss your particular details and see what options exist. Good luck.