Land contract Question.

Land contract Question. We bought a home under a land contract in 2006, the contract expired in Aug 2008. We still live in the home and paying monthly payments. We bought the home for 160k, now its worth around 115k. Can we walk away from this home without any pentlies? We are not in a position to refi now. What are our options?? We are meeting the sellers next week….Any ideas what we should do??

Thank You

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