Question

I lost my job a couple month's afo. My wife's salary pays all the bill except the mortgage. Unfortunately I don't see any opportunity for me to find work here in the next few months, so we are considering moving to anotter state to find work. We are willing to give up the house to foreclosure, but we want to be sure we do't et hit with a defficiency judgement. We want to avoid bankrupcy though because we have excellent credit scores now. We know that the foreclosure will hurt our credit badly, but bankrupcy will destroy it. What are people's thoughts on this?

We're in Florida, BTW.

IMO, having a foreclosure and a BK at the same time does not dent your credit any worse than a foreclosure with no BK. Actually, I think filing BK because of a job loss ans surrendering the home, but having good to excellent credit beofre the BK, you're better off . The foreclosure and judgement can be a credit rating killer.