Can you walk away from your mortgage if it's listed in bankruptcy?

You cannot excuse yourself from payment of a mortgage in bankruptcy. A mortgage is a senior debt leveraged against a hard asset. When you declare bankruptcy, many debts may be reduced or excused, but a senior debt such as a mortgage is not likely to go away. Rather, the judge will look for a way to resolve the debt with at least partial repayment and surrendering of the asset on the deed (i.e., your home). If you will experience undue hardship by paying the mortgage, a judge will look for methods to reduce your obligation to repay, but you will still lose the asset.

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