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The chapter 7 bankruptcy would have discharged your personal liability on the mortgage but not the lien on the property. This means that since you did not reaffirm, if the property were to be foreclosed, the lender could sell the property to satisfy the debt but could not obtain a judgment against you for the unsatisfied portion of the debt. However it also means that you cannot sell the property without paying the mortgage in full
Have I answered your question?
I had a chapter13
Did you complete the chapter 13?
Can I just walk away since there is no recording of any payment to the credit bureau?
the chapter 13 would typically have granted you would discharge on your personal liability - my original answer stands
Am I considered just a renter?
no – you own the property subject to the loan. If you sell the property for more than the amount of the loan, the excess belongs to you. If you allow the property to be foreclosed, you are not liable for the loss
Why are my payments not reported if I own the property subject to the loan?
Because the bankruptcy discharged your personal liability
I don't know if it would be wise to put money into the house if I don't plan on staying here when my daughter moves out in 6 months>
you will need to make that determination yourself – you may want to look at the value of the house compared to the amount that you still owe on the mortgage in making your determination
The value is 112,000 and I owe 97,800
Since the property is worth more than you owe, it appears that it would be best to sell the house rather than to let it go into foreclosure
My bank is trying to get me to refinance with them for another 30 years with a loan of 103000
I believe that I have answered your original question. Am I correct?
Yes you are and you have been very helpful. Thank you Teresa
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