What are my chances to refinance if my home to value has droped amost to even money?

Wife and I purchased the home a year ago for 475,000 and currently owe 423,000. I hate to say but because of a devorce we have to do something about the house. Is there any way to refinance the house to get a lower payment so the wife can handle the payments on her own? [...] http://bit.ly/rmtVbL