Bought house when single; now married. Walk away?

[brendalisa]

I bought my house when I was single, but now I am married. My husband is NOT on the loan or deed. We are under water in the house. We want to move to a better area (don't live in a great area) with better schools, and have a cheaper mortgage as well. I'm going to have our first baby in a month. We want to walk away from this house and get a new one with just his credit. We realize this will hurt my credit, but are willing to deal with the consequences. What is the worst that could happen if we do this?