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Resources on Foreclosure, Credit & Debt, and Bankruptcy

How to File for Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

The New Bankruptcy: Will It Work for You?

Selling Your House in a Tough Market

Foreclosure: Articles and FAQs

Guide to Avoiding Foreclosure (HUD)

Avoiding Foreclosure: State Resources (HUD)

Foreclosure Survival Guide

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Foreclosure Survival Guide (1st Edition)

Income Taxes

Essentially, if there’s a deficiency in the course of a foreclosure or other type of sale, the amount is considered your taxable income, unless the deficiency arose from the acquisition or improvement of your principal home. (This issue is discussed in more detail in Ch. 8.)