mort

my husband and i have owned out home for 13 years. it is our primary residence. last november, 2009 we refinanced consolidate our 1st and 2nd mortgages and to pay off credit card debt. our credit was poor at the time and we received a 11.33% interest rate on the new loan. they told us that if we could keep on the mortgage payments and not incrue any new debt, they would refinance us nov 2010. since then they have closed all their branches and are no longer taking any new business which included refinancing their current clients. we currently owe $158k with a payment of $1,760 per month plus a 5% prepay penalty estamated value of the home is $166k. if we refinance or sell before november 2011. the currently mortgage company states that they have chosen not to participate in the obamha stimulas package. we have been playing the pay them late but just in time game for month and we can't keep it up any longer. on sept 30,2009 we will hit our first 30 days past due. we have found a rental house to move into but what are our options for getting out of this home and the mortgage. how will the options affect our credit? is one worse than the other. what are the tax implimintations?