How long does a repossession hurt your credit

I want the bank to take back the house...I have a automatic deposit for 1/2 the mortage payment. I don't live in the house, I had a family member live there for a while and she destored it. I have tried to sell, and can't get even close to what I owe. The bank wants me to get what ever I can and then I have to make up the difference, if they repo it, will I still be responsible for the difference? And should I stop making any payments at all? How long will this hurt my credit?? I live in a small town, all banks puts things like this in the paper, is that legal??? Thanks for all your help.

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