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mgpc2009 · Joined: 02 Feb 2011 Posts: 1 1.37 Dollars($)

Ch 7 discharge 5/08, do not reaffirmed the mortgage.

Citi not reporting anymore, I am in a modification. They buried me in debt, making payment upside down.

I am wondering, if I apply for a new mort will the new lender ask about the last, do they need to know anything about it and do I need to say anything. I was wondering if I just said I am renting with a relative. Need advice....

Mike

[Email address deleted as per forum rules. Thanks.]

smithsussane · Posted: Wed Feb 02, 2011 9:11 pm Post subject:

Hi mgpc!

Welcome to forums!

As you haven't reaffirmed the mortgage, you're not personally liable for paying off the dues. You should ask the lender to sell off the property asap so that you can get rid of it. Unless you get rid of this property, it will be difficult for you to qualify for a new mortgage.

Feel free to ask if you've further queries.

Sussane

Guest

thanks, I am curious why would it be difficult to get another mortgage.

Since my mort company is not reporting since 08, Could I just say I walked away. Is it their business? What I would like to do is rent it out and keep it.

jameshogg · Posted: Fri Feb 04, 2011 12:24 am Post subject:

Hi mgpc,

If you have a property in your name with a loan balance outstanding on it, the lenders will not be ready to give you a mortgage to buy a new property.

Thanks

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