Open question: We would like to sell, but we are on mortgage underwater?

Forwards we bought our house two year on the height of the market. It cost $332K and the tax estimation was for $350K. Now lowered the tax estimation to $283K and that is our whole house worth actual however we probably owe still $305K on it! We have $25k in the saved cash however, if we used it, in order to form the difference, we leave no money left, in order to also buy another house (its hard to find a place in order to rent, the 4 dogs permit it). But, because we have this cash, nothing does our credit-giving place (bank OF America) to change our loan or again to financiers, since we are not endangered for dropping back (at present we, use nearly $1K one month of the saving to form, around which deficit). Present rents for a nice small sea-side house like ours its around $1900 or maximum $2K one month, but our month PITI is $2900. We have good credit note (720) and we are reserved to do a Leerverkauf and the credit note (also me think with cash, on the basis, us, do not permit a Leerverkauf to do?), to ruin advice, ask! Is there everything, which we think not on? We live in NY. Thanks in advance.