Given the current economic climate, it may be awhile before things turn around. Therefore, moving may not seem like an option given the fact that your house may not sell for an amount you need. However, depending on your employment opportunities you may have to begin to look elsewhere. Keep in mind that you may not be completely trapped. There may be other options out there. Consider renting your home and then renting near the new employment opportunity. You must consider the housing market in your area and any property management expenses that may incur. So if you are considering this, make sure that you can rent your new place for a lower cost than your current mortgage to offset the additional expenses.
This may not be an option for you because of other family commitments. Just remember to keep an open mind and look at other possibilities. Good luck and let’s hope things begin to turn around soon.