Legal Question in Credit and Debt Law in Massachusetts

"Walking away" is not a good idea; in the current economy, the lender on your mortgage is very likely either to take a very long time to foreclose, during which you would still be liable for taxes and for insuring the property (you don't want someone to come onto the property, get hurt, and you don't have insurance!). In addition, if you owe more than the house is worth, there is a strong possibility that the lender would sue you for the shortage (called a "deficiency") after foreclosing. From what I hear the real estate market is fairly strong; maybe you need a new broker that will market your property more aggressively...

The best way would be a Bankruptcy which would cover you from any deficiency which will result from a forclosed sale. Other ortions may be a short sale or a quick sale. My office can do a BR or contact one of our many brokers. 774-735-0562