In order to get a reliable, specific answer to your question, I'll suggest that you 1) consult with the attorney who handled your bankruptcy or 2) have someone review your bankruptcy petition and the associated docket. If you did not reaffirm the underlying promissory note, and if you properly listed that debt in your Petition, your personal obligation to pay the loan may be discharged. You are correct that the lien on the property doesn't go away with your bankruptcy. The lender can foreclose -- which is a proceeding against the property (although you'll be listed on the case and served with the paperwork). The result of a foreclosure proceeding is that the bank can take the property or sell it at a judicial sale. You'll then have to leave the property after that's all said and done. Can you sell the property for any kind of net return? You could also offer the lender a deed in lieu of a foreclosure. Sometimes they'll actually pay you to do that (cash in your pocket is a good thing).
Answered on Jul 12th, 2017 at 10:56 AM