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If you have other debt, then the bankruptcy may be the best option.
Any amount that they forgive would be taxable as income to you, but it doesn't sound like they want to do that.
If they force you to accept a deficiency, it should be discharged in the case.
If you sign the contract while insolvent, and don't disclose your intent to file, then they could object to discharge in your case.
If you don't sell and just file ch7 and discharge the debt, there would be no deficiency balance to collect on.
Therefore, that may be the best option, and don't worry about trying to sell.
foreclosure will transfer the title.
You would be responsible to keep the home in good repair until then.
If it has association fees, you would owe them despite bankruptcy from the date your bankruptcy was filed until the foreclosure though.
You can also live there rent free/mortgage free until the foreclosure completes too.
hope that helps.
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