If you received a discharge in the bankruptcy you are no longer liable for note, or the amount of money owed to the lender. However, the creditor still has "in rem" relief. In other words, they can foreclose on the home because they have the mortgage or lien. Mortgages and liens, survive a bankruptcy. The deed is a recorded document that indicates you OWN the home, but if you took a mortgage out on the home, the lender can take the home back. Because of your bankruptcy, you are not liable for any deficiency if the lender sells the home for less than what you owed.
Answered on Mar 31st, 2013 at 8:23 PM