We are a family of 5 and self employed. We went into foreclosure in 2006?

After we went into foreclosure, we set up a repayment plan. We followed all terms and they now put us into a modification. We cannot afford the modification payment, we are in an adjustable rate that is at 11% and will go as high as 14% by june and we have really bad credit. We also have an investment property which we purchased through an investor at a really high interest rate. We are seriously considering bankruptcy to get a clean start. My question is, should we still try and sell or short sale our house even though we are filing bankruptcy?

Sell and the TAXES will kill you. Time to talk to a lawyer

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