Compare Mortgage Quotes

adonis · Posted: Sat Mar 13, 2010 12:48 am Post subject:

Welcome chan,

If your reaffirm your mortgage while you are in bankruptcy and keep on making payments, then the lender will not foreclose the property. However, if you do not pay the dues, then the lender will have the rights to foreclose the home.

Guest

The bank was foreclosing on me therefore I had to do chapter 13... to find out that after 5 yrs and 50,000 payments - that everyone who didnt get paid thats almost all original debts... as there were so many new fees involved in this 13.... will still come after me. So that was a waste of time... also found out that the Liens on my house no matter how small can foreclose on me anytime after that or if I convert to ch7 after one year safety sanction. And force me into foreclosure. Seems like the only thing I can do is walk away.... any other ideas?

Guest

I would suggest you to have a word with a bankruptcy attorney first and chek out whether or not the creditor's will be able to come after you. If you walkaway from the property, the lender will foreclose it and you would be responsible for the deficient balance resulting from the sale of your property.

Guest

My bankruptcy was discharged on 3/16/2010. My house was not in the bankruptcy. Payments are current and I have no problem paying the mortgage. If I want reaffirmation, I now have to reopen the bankruptcy. My attorney feels it is better if I do not reaffirm...just stay current. He suggests that because if anything happens I won't be liable. Still, my credit will be affected if I don't reaffirm because the lender will not report my payment history. What are the pros and cons. Thx.

jameshogg · Posted: Wed Apr 21, 2010 1:52 am Post subject:

Hi elaine,

In my opinion, it would be good if you reaffirm your mortgage. Once you make the payments after reaffirmation, the lender will report it to the credit bureaus and your credit would get improved.

Thanks

Guest

My daughter is selling home that I cosigned for her, she made all the payments. I filed for bankrupcy and have been discharged last year. Will she hve to give up any monies that she makes on the house sale?

adonis · Posted: Sun May 23, 2010 10:53 pm Post subject:

Welcome joe,

Your daughter won't have to give away the money that she makes from the property sale. However, if there is a mortgage on the property, then she will have to clear it off once she sells the property.

Guest

Hi,

I reaffirmed 1st and 2nd mortgage and have been paying the mortgage on time since the discharge in 12/2006. Both lenders do not report my payments to the credit agencies. I'm trying to build my score, currently 640. What is the max score I can get with a BK and if I have been paying all my bills on time? I do have 2 credit cards that are max'd out. I'm willing to pay them off but will that be enough to get my score to 700?

Thanks

adonis · Posted: Thu Aug 26, 2010 11:59 pm Post subject:

Hi rod,

If you've reaffirmed the mortgages, then the lender should report your monthly mortgage payments to the credit bureaus. You should contact the lender and ask him to report the payments to the bureaus. If you pay off the credit cards, it will definitely help you in increasing your scores. But it's difficult to say as to how much your score would improve.

Guest

Hi, my debtor filed a chapter 7 in the state of AL. He represented himself and told the court he had no assets. We have the title to the mobile home and he has been discharged. What can we do?

adonis · Posted: Wed Sep 22, 2010 10:55 pm Post subject:

Welcome Alice,

You need to contact an attorney and take his opinion in this matter. He will guide you as to what steps you need to take in this regard and what can you do with the title of the mobile home.

Guest

Thanks so much and have a great day.

Guest

i filed bankrutpcy and got dischared from court i mentioned my home loan in it but the home is still in my custudy bank is planning to foreclose it my question is this after foreclousure i am not liable to pay any difference or i do

Guest

no i want bank to forclosure my property i did not reffirm my loan or make any payment do i still reponsible that loan?

smithsussane · Posted: Mon Sep 27, 2010 11:10 pm Post subject:

Hi shan!

Welcome to forums!

If you haven't reaffirmed the mortgage, then you can surrender the property to the lender. He will foreclose it and recover as much amount as possible. You won't be liable for paying the balance amount resulting from the sale.

Feel free to ask if you've further queries.

Sussane

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours
Previous 1, 2, 3, 4 Next
Page 3 of 4

Property State:
Property Type:
Credit Rating:

Compare Mortgage Quotes

Life after bankruptcy discharge - worried about keeping home