I don't think it would be accurate to say that your house was not placed into Bankruptcy, although that's commonly how people think of it when they know the intention was to continue paying the mortgage. One big question is whether you signed a Reaffirmation Agreement. If not, as long as the mortgage company received notice of the Bankruptcy (and you are required to list all of your debt and property, so it's likely listed) you cannot be sued for any deficiency. There are quite of few things to doublecheck here and if you're walking away there are quite a few considerations about the timing of that and your ongoing responsibilities and liabilities, so I think you should discuss this with the attorney that handled your case or even pay for legal consultation to make sure you're doing this the best way.
Answered on Feb 21st, 2013 at 3:00 PM