Mortgage under water need help

[mlopez60120]

Hello

I live in Illinois I filed chapter 7 three years ago. My house was part of the BK did not reaffirm on the loan but I have always made my payments on time. The main reason for my BK was Medical Bills and Credit cards. My current house value is $140,000.00 this is the best case from two realtors. My mortgage is $195,000.00. So like most people I am under water with my mortgage by $55,000.00.
My Questions
1. Should I stay and ride it out and see what happens in the next 5 years?
2. Since the house in in BK should I let it go and walk away? If so how long before I can get a new mortgage?
Since the BK I have reestablished my credit I have a car and I have one credit card my current credit score is 698. Today I can buy a house just like mine for $130-$150 which would place me in a better situation in the upcoming years than waiting to see if my house ever goes up in value.

Thanks

[spidge]

Have you looked at any of the programs available? Here is where I was helped;

http://www.loansafe.org/

I hope the admins don't slap my hand for posting the link. Join, check out the forums, and ask questions. There are options for self help or you can look for assistance.