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Filing bankruptcy would allow you to have this deficiency amount from foreclosure and your credit card debt discharged.
As for the taxes due if the deficiency amount on your mortgage is discharged, you can avoid paying taxes IF the house was your primary residence under the Mortgage Forgiveness Debt Relief Act. http://www.irs.gov/individuals/article/0,,id=179414,00.html
Essentially, if your lender issues you a 1099 for the amount discharged, you can avoid paying taxes (as the government considers this income) under this act.