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I have stopped paying the mortgage, but have not yet received a foreclosure notice. The current renter is leaving in January or February. i have been told that I "own" the property even after the mortgage company does take possession, until they sell it, which may be a year or two. What are my responsibilities to the property? If I still own it, how long do I need to keep it insured? Should I rent it again after the renter leaves or board it up? My bankruptcy lawyer says to "just walk away," which sounds good, but I have a feeling that would backfire on me in some way. As I understand it, though, I am free of it once it is sold, since the bankruptcy has freed me of the loan.