How do I quickly get rid of an underwater house I no longer live in?My girlfriend bought a house in The Dalles, Oregon about 3 years ago (worst time possible) for 162k. Her mortgage is 1165 a month at 5.9% and just a few days ago found out that the house is now worth 119k. We currently live in the Seattle area and she has no intention of going back to The Dalles. The problem is, the house is being rented for 800 a month so she is losing almost 400 a month not counting random landlord costs. She tried selling the house 2 years ago when she moved and not surprisingly no one wanted to buy it.What would be the best option for how to get rid of the house? We would like to buy our own house (after getting married) in a few years so would prefer not to take a huge credit hit.December 29 2010 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.