My attorney is advising me not to reafirm afte my bankruptcy

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My attorney has dragged his feet and failed to get my reafirmation filed as yet for my mortgage after my Chapter7. I'm making my payments and he says that as long as i make my payments i will be fine and they can't do anything. What I'm afraid of is I want to make sure the the home is still "MINE", and that I don't loose my $35,000 equity. My attorney says I can walk away, but that means I loose everything I've put into it. Also I do want to sell and purchase a townhome soon, so won't I need the credit reporting from my mortgage in order to get that financing?
I'm having a very hard time getting any help from my attorney.
Can anyone help please!!! I would be oh so greatful.

jenkin7 · Posted: Tue Jun 30, 2009 10:01 pm Post subject:

Hi DRae,

It is true that as long as you make the payments, the lender cannot take your property. If you are sure that you will be able to continue making the payments on time, your home should be safe. But if you fall behind on your payments due to financial hardship, the lender might not be willing to work with you, unless you reaffirm the loan.

If you are not getting any help from your attorney, you should consult another attorney. You can also contact your lender and express your intention of reaffirming the loan. They might be able to tell you how you can reaffirm your loan. But whether you reaffirm or not, if you make the payments on time, try and make sure that they are properly reported to the credit bureaus. This will help you in getting a loan to make a new purchase in future.

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.52 Dollars($)

since you are interested in selling property, just ensure that they are giving proper reprt to credit bureaus

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