Thank you for your question. I am happy to assist you.
No, you do not have to wait and I do not see the benefit in waiting. Let me explain.
I would agree with your lawyer if filing a Chapter 13 repayment plan were in your best interest. In that case you would want to wait in order to see what the deficiency was in order to include it in the Chapter 13 repayment plan.
However, a repayment plan of any type does not seem to be in your best interests. A Chapter 7 bankruptcy appears to be more beneficial with your financial problems.
A Chapter 7 bankruptcy could discharge (erase) all of your credit card and any other unsecured debt. It could eliminate any deficiency on the house in foreclosure. It could be an opportunity for a fresh financial start.
I hope that the information which I provided was helpful to you.
Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.
THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE