Bankruptcy in 2007 (Discharged) Mortgage Not Reaffirmed. Lender is WellsFargo. What are my Options?

[MT_Texas]

To Whom It May Concern.

I am coming to this board to ask what my options are and to validate my research to this point in time.

Situation:  In March 2007 my wife and I filed for a Chapter 7 Bankruptcy that was Discharged in June 2007.  Our mortgage was not reaffirmed and was discharged along with all other debts we had at that time.  We have stayed in the house for the past six years and never been late on any payments, and have alwasy been in good standing. We are now looking to leave the area due to a number of reasons of which I will not go into here.  With the before noted and said I have done some research and am not  getting a real clear answer.

We are considering walking away from the house and renting a house in a new area.  It is my understanding that since the mortgage was not reaffirmed in the bankruptcy and has been discharge we can do this without issue.  The concern / question we have is that when the bank forcloses as they will have to do inorder to take controll of the property is how will it affect our credit report and can they still come after us for anything.

Our property is homesteded in Texas and our mortgage is with WellsFargo.

So in short what are my options? What are others experiances here in Texas? Any advise is apperciated.

Thanks

MT of Texas

[mooie53]

Why don't you just sell it? Do you not have any equity in it after all this time paying?

[sewinlove]

You should be able to walk away, unharmed.

When I filed Ch 7 we didn't reaffirm our vehicle but we continue to make regular payments and have never been late. My lawyer said at any point, for any reason, we can give the vehicle back without consquences.

[GoingTo800]

I did just that, I did not reaffirm my mortgage but rather did a ride thru, stayed and kept paying. I walked away 3 years later, no consequences.