When you released the door how did it function. The door needs to function properly or the opener will not work properly. The door should open and close easily when released or the extra pressure will trigger the opener to stop.

 

Once it's released it moves smoothly by hand

 

Unplug it and take the cover off. Inspect the white plastic gears. A very common problem is the gears get stripped.

 

...forgive my lack of proper terminology on this post... So I took the cover off to take a look inside. The main gear appears to be in good condition. I was taking a look at the contacts that control the upper and lower limits of the door. To see how it operated I hit the door button, and right away the gear on the top snapped off and the chain went loose :/ I'm thinking this part shouldn't be too difficult to replace. I can see how it easily slides out when a cover is taken off the top. My main concern is why this happened, and how to prevent it from happening again. I noticed there is a pile of metal filings on the top. Was this a result of normal wear and tear, or is there a deeper problem? The house is about 8 years old, but we just moved in 6 months ago. I'm assuming this is the original opener that came with the house

 

I have the gear assembly out and am going to order a new one tomorrow. There is a ton more metal filing residue inside and on top of the gear, which seems like it shouldn't be there...

 

Looks like a bearing went bad. That would put the extra strain on the opener and cause the tension adjustments to think the door was jammed.

 

I would not sink any money into a 8 year old unit, I would replace it. An easy DIY project. Under $200

http://www.homedepot.com/b/N-5yc1vZas5uZ1z0xy7r

 

Replacement is certainly a good idea considering the age and technology of the unit you have. If you're going to replace it you should deftly go with something other than chain drive, belt drive is the best out there these days. It's quieter, cleaner and doesn't require lubrication. Prices are comparable to chain drive: http://www.homedepot.com/b/Doors-Wi...e-Doors-Openers-Accessories-Garage-Door-Openers/Belt-Drive/N-5yc1vZas5uZ1z0xxza

 

I wouldn't toss an 8 year old opener for needing $30 worth of parts. A new opener would not have any safety features this one doesn't and only a slightly better rolling code technology. This opener could easily last another 15 years, don't be so quick to discard it. If you can fix it yourself it's a cheap and easy fix. I have put gears in openers a lot older than this one.