I helped someone out... now I need help with Popular Mortgage

The property is in Washington DC. I purchased it to save a co-worker from being evicted when her mother fell behind on the mortgage and went into foreclosure. The plan was to sell it back to my co-worker a month later. Her mother would give her the down payment and make repairs and payments from the sale proceeds. The whole deal was done quickly and I believe fraudulently. My co-worker and her mother contracted the mortgage broker, who in turn had an inflated appraisal done and then negotiated the loan so quickly that I had no time to really look at what I was signing. Since I had no intention of keeping the property for more than a month or two I was not overly concerned. Well my co-worker split and the property has been vacant for almost a year. It is in terrible shape and will not bring anywhere near what is owed on it if I sell it. My coworkers mother has made all the payment and the taxes on it out of some sense of obligation but she stopped doing that after the Nov. payment. I am one month in default. The property is listed for sale now. I have been taken for a ride and even my Realtor has suggested I look into bankruptcy. Do I qualify for a deed in lieu of foreclosure? I believe I might actually have a case for predatory lending and fraud but I am not sure.