Foreclosure on Home Not Reaffirmed

[Whodunit]

My question involves bankruptcy in the state of: MI

I filed for bankruptcy in 2005 with my mortgage on the schedule of debts. At the conclusion of the bankruptcy process, this mortgage debt was never reaffirmed yet I still continue to pay the mortgage and live in the home. The home is very old and in disrepair and I am 99.9% confident the value even with repairs is not worth paying on it for 20 more years to eventually own the home. As a result, I have the following questions:

1) If I stop paying the mortgage, would foreclosure occur and is it defined as the process of the bank taking on ownership of the Title/Deed on the home?
2) Would a foreclosure affect my credit rating now even though the debt legally isn't mine as a result of the bankruptcy seven years ago?
3) How "public" is foreclosure? Is this something that shows up in newspapers or easily found public records?
4) Would foreclosing now affect my ability to buy another home?

[flyingron]

1. Foreclosure will occur, most likely in MI as a non-judicial invocation of power of sale clause. After the sufficient notifications and publications, the house will be sold to the highest bidder (most likely the bank).
Whoever bids the highest will get ownership. If there is any money to be had after the mortgages and other liens are paid, it will go to the owner.

2. Foreclosure of a discharged debt shouldn't have any effect on your credit.

3. Foreclosures are all VERY public.

4. I can't imagine the foreclosure will make much of a difference over the bankruptcy.