I am looking into my options for bankruptcy. I am in a house that I am unable to pay for. I still make about $###,### a year; but I have other real estate properties that will not rent for enough money and I have been unable to sell them.

 I am possibly interested in bankruptcy only if it will allow me to keep my current residency. If I cannot keep my current residency, I may be better off moving into a rental property and seeing if the banks ever pursue deficiency judgments against me (which is likely as the values are all now cut in half).

 I have very little unsecured debts. Student loans are my biggest at $##,###; but I do not think bankruptcy will erase them, but that is fine as the only debt I am behind on are the real estate debts.

 I travel a lot so email is best for me, but I could schedule a phone conference if needed or office visit.

 I appreciate any information that you can provide; and hopefully, this down real estate market will recover before I am forced into either foreclosure or bankruptcy.

 Thank you, and I look forward to hearing from you.

Assuming that you are a resident of Florida for the last 180 days and that your $###,### income is your only income - there is no spouse who is also making an income, your only option is Chapter 13.  You can keep your residence and surrender all of the rentals.  The catch is that you are going to have to pay all of your net disposable income (net income after taxes less living expense budget set by the court) to a Chapter 13 trustee for five years.  You will also have to surrender any and all tax refunds.  The benefit is that you get a discharge of all your debt (the student loans can be paid though the 5 year plan). 

Doing nothing an forcing deficiency judments is not a good choice.  A judgment on a credit report is worse than the stigma of bankruptcy because it represents a possible and probable interruption of your income stream.  You will find it difficult, if not impossible to secure new loans for motor vehicles or even credit cards.  Once the judgment's hit you may see your credit card rate of interest go to the maximum allowed by law.