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Broke up and need to sell underwater home ASAP Denver Area

I purchased a home with my partner in June 2022 right at the top of the housing price bubble in a HCOL metro area just before rates went way up. We have a FHA loan with a 4.625% rate and paid 622k for the house. A few months ago after a nasty argument my partner decided that we were breaking up and she is going to get a lease and refuses to pay her portion of the mortgage. I realize now how stupid it was to buy without being married but we have two small kids that we now coparent and I didn't see this coming. I have looked at comps in my neighborhood and houses bigger than mine are selling for 550k and we owe 592k (Zestimate is currently around 568k). Our home was a model so it does have some upgrades etc but either way it looks like we would be short 10s of thousands to walk away now. I'm stuck and don't know what to do. My partner is fine messing up her credit and tells me to just short sell it as if that isn't something the bank has to approve and will hurt both of us. I want to save my credit if at all possible and get out of this nightmare. We both earn decent money over 100K each but solo my mortgage and escrow ($4,400) on this 600k home with 2 kids is a lot! I currently have paid the mortgage ahead a few months and I'm working my butt off to stay on top of it and not get behind.

I talked to the bank right away about the situation. They told me about a mortgage assumption which a potential buyer could take over my loan if qualified which may be an option but again what I owe is higher than the comps. Our 4.625 is better than the current 7+ rates and there would not need to be an appraisal.

submitted by /u/Traditional-Brick789
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source https://www.reddit.com/r/RealEstate/comments/1cf0gr6/broke_up_and_need_to_sell_underwater_home_asap/
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