Tom, If I may...one thing I would consider doing is paying more per month towards the principle of your loan.
You say your loan is $480.00 per month and that you are able to save money monthly.
It would be a huge benefit to send say an extra $300.00 per month that applies directly to your principle. At the end of a year not only have you lowered your principle an additional $3600.00 you are paying less interest monthly. At the end of two years you will wind up oweing far less on the balance of your loan and have a much better chance at being able to sell without taking such a huge hit. If your interest rate is above 6% this is a great way to go due to the fact that you are not getting great interest rates by the banks for savings. It can be hard to send more than you need to but it is a solution that may work to your benefit. Just a thought!!
btw...my property taxes without my loan are $650.00 per month!!! Yikes gotta love N.Y.