already filed, forgot 2 assets

[Pandora]

Hello Guys, I need some advice - I retained legal Helpers today. The Attorney I met with based on the following here below stated that its best if I give up the property but delay the filing for a few months. He also advised me to stop paying the mortgage its not worth it he says. He also said that best interest is to file Chapter 7

1st mortgage 305K
2nd Mort 60K
other debts 45k
value according to appraisers off 122k

He says best to wait awhile and in the meantime stop paying my mortgage - i am current with first have not paid 2nd in over 2 years.

What do you think guys? I really did not want to give up the property but its not about the property anymore. How long should I wait? to file Do you think it would be worth it to stop paying, except i just got a modification on the 1st in march 2010. I feel so really bad about not paying it or anyone for that matter, but the numbers just not there. Creditors are getting really agressive. Another question Legal Helpers informed also that just advised the creditors that i have retained them and that should stop the calls. Do anyone have experience with Legal Helpers?

unless your modification had a forgiveness amount (not forbearance but actual forgiveness) that was HUGE and you can write it off and not have to claim it as income by IRS standards - I'd dump the house as well. If the appraisal is accurate, you're already -243K on the property - there is absolutely no way you'll recover that amount in the next 10-15 years in this economy. Get rid of everything and start over - thats what Chapter 7 is for