Open Question: What would you do in this situation (homeowner in trouble)?

[Administrator]

I bought a condo almost 2 years ago for 255,000 ;It is a block away from the beach in Long Beach, California. My first mortgage is 200,000 and my second is for 50,000. The HOA fee is 114.00 per month. In all, I pay 1716.00 per month. I pay 2,500 in taxes for the year.Now the value of the home is between 210,000 and 216,0000.In February, my payment will go up by 300.00Yes, I've consulted with HUD and FHA. No help from either group. I feel like they aren't even listening to me.I am a teacher, and the non-profit that helped me obtain he home has folded.I have been rejected by 3 companies for refinancing because there is no equity in the home and the loan is upside down.Litton loan sold my loan to two separate companies. I have made every payment. I have sent both companies hardship letters and am waiting for their reply. The attendants on the phone are know nothings and won't talk to me unless I don't make a payment. It freaked them out today when I said I am not paying this month until the situation is resolved...but still no answer.Should I walk away from the property? Is short sale an option?What a F-ing headache. I am crying each night about the situation. I am completely depressed.

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