Thank you very much Terry for respond
1) what means the phrase:"...you can try to surrender the home in FULL SATISFACTION of total claims (no default left after foreclosure)..."
2) we think that we can go only with chapter 13, because we have some assets.
3) our original question was, because we did not satisfy with Approval from Oxford Management Services collection on SS on second mortgage (they want to take $75K from shortsale buyer on closing, it is OK, and remaining balance $170K will continue try to collect from us, that is not OK, even we are sure that they bought this loan on penny on dollar, but will get already 35% of 100% balance).
In this case, if our SS agent cannot figure out agreement without forgiveness remain balance, and we anyway need to file bankruptcy, why we need to leave house tomorrow signed shortsale, while we can wait one more week, go on foreclosure and stay in this house 20-30 days more after foreclosure. I need to know your expertise:
Do I have ability not sign shortsale in Escrow tomorrow and wait foreclosure?
If yes, what I should do? (Shortsale buyer is asking to leave property and sign purchase and sale agreement or HUD1?)
Could I postpone filing bankruptcy after foreclosure two-four months letter?