Hey Yes'ers

Detroit and Hamtramck have finally 'beaten' me. I've tried for 7 years. The only thing I can change in this situation is me. So I started looking for a new home, gulp, out in the burbs. I have really good credit and was pre-approved for a decent second mortgage.

After looking at the feasibility of renting out my current home [[0% chance) I realized that if I proceeded, despite my best intentions, I would in short time be pulling a buy and bail. [[I owe far more on my house than what it would appraise for and carrying both mortgages is not possible.)

I've called off my mortgage broker and realtor, whom were both very sympathetic and understanding.

I would love to hear any stories of folks doing this in Detroit-The risks. The consequences. The results. Any legit ways of getting out from under a house without destroying my credit for the next 3-7 years?