Land contract

After having been destroyed financially by a deadbeat renter, I am faced with filing Ch.7. To buy time, I sold the house on a very generously worded contract to a buyer who uses it as a rental property. He fixed the house up after my deadbeat renter did nearly $4,000 damage to this $90,000 home after I had her evicted. The subsequent judgment for $6800.00 is uncollectable. The contract buyer has been current on payments (which he makes to me for the exact amount of the mortgage since the FHA loan/taxes/insurance are still in my name.) The buyer has always been prompt w/payments but I'm concerned that this agreement could come back to bite me after I file so I want to include it in the Ch. 7 filing.

I know you don't have access to my 3 page contract and the exact terms but:

1) Is there anything that jumps out as preventing me from including this home loan in my filing?

2) Can the contract buyer likely sue me to recover his investment which is property repair only, no downpayment?

I feel dumb enough that I was conned by my renter and that I got emotional and rushed into a land contract without an attorney looking at it. I was just so devastated by what had happened to me and I want to be sure I do things right for a change. If I cannot include this property, it is probably useless to file Ch. 7 since I could still find myself in a pickle if the buyer or someone he sells it to defaults. The property and I reside in Indiana.

I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.

What first jumps out at me is this:

it seems like there may be prohibitions in the FHA loans to allow you to do this. So, in order it doesn't come back to haunt you, I think you should do the wise thing and consult with a financial expert or bankruptcy attorney in your state and go from there.

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