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I have a discharged chp 7 from 12 years ago. My mortgage wasn't added, but apparently it was discharged. Will a foreclosure show if I walk away?

1 Answers. Asked on Jul 12th, 2017 on Real Estate - Pennsylvania
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My bankruptcy was discharged 12 years ago. I didn't add my mortgage to it, but apparently it was discharged. bank still has a lien on the house. I've been paying. However..the house is in a state of disrepair..and I'm moving. What happens if I just walk away? I know they said it won't show on my credit report...but legally what happens? Will a foreclosure follow me? etc...what are my options?
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Answered on Jul 12th, 2017 at 10:56 AM

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). 

I recommend that you seek out a local attorney for a more in depth discussion of the matter. I do not recommend that you take any action steps without such a consult. Act quickly because by waiting, you may lose certain rights and remedies available to you.

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