Losing two investment props, impact to wife?

[mbbransc]

All of this is in DeKalb County, GA.

I have two investment properties in my sole name that I have been bleeding money on for 4-yrs. A Health Inspector is moving the family out of one of the houses because I can't afford to fix all that's wrong with it. And of course, since the Health Dept is involved, we aren't going to be able to get anyone in there (who would anyway, right?). So my wife and I have come to the conclusion that we are giving up on these houses. They have sucked tens of thousands of dollars out of us over the past 4-yrs.

At this point, I think I should be more concerned with asset protection. Since these mortgages are only in my name, my wife's credit should remain intact.

• But what about joint credit cards? Should we look to remove me before my credit is pounded?
• What about the meager savings we have left? Should I move it to an account that is only in my wife's name?
• We still have a primary home that we are upside down on as well and have since started renting it out (we moved to another state due to a job loss)
• I do have a car in my name but it has a $10K note.
• What else should I be considering to protect from a defeciency judgment? Can they go after my IRA?

These houses are financed through WAMU (now Chase). How can I possibly speed up the foreclosure process? I'd like to take the least number of late-pmt dinges as possible through this. I'm ready to give up and start over, but I want to hurry and rip the bandaid off.

Thx for any and all help!!