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Maryland Bankruptcy Attorney Brett Weiss has a blog post on when you should possibly considering surrendering your house in bankruptcy:
http://www.bankruptcylawnetwork.com/2009/10/14/when-does-it-make-sense-to-let-the-house-go/
I have found in my practice that this is one of the hardest things for clients to consider doing.  We all get emotionally attached to our home, often because that is where our children were raised or it is family property.  It is very difficult to consider letting your home go back, but it is often, as Mr. Weiss points out, the economically sound thing to do for your future.
I would also add that in our area of Kentucky, we have many folks that have financed a manufactured or mobile home and land together and owe much more than the manufactured or mobile home is worth, even factoring in the value of the land.  Manufactured or mobile homes most often depreciate in value, thus never allowing folks to build up equity in them.  In these cases, surrendering the manufactured or mobile home is often the wisest thing to do.