Posted on: 31st Jan, 2010 07:05 pm
My attorney said that I can not open the case back up and re-affirmation my mortgage debt under California state law. Is this true? Mylender is saying unless I provide a re-affirmation letter they will not move forward with loan modification. I'm so confused on what to do because my Chapter 7 case has been closed but I really need a modification in order to keep my home. I have not missed any payments but I have exhausted everything and will no longer be able to make the payment anymore. It sounded like they would approve modification if I did provide reaffirmation but my attorney is saying I can't do it. Who is right?
Hi,
As far as I know, most of the judges will not allow you to reopen your bankruptcy case just for the purpose of reaffirming the mortgage. However, in certain states, the court may allow you to reopen the case so you can reaffirm the loan. However, is there any guarantee that the lender will modify your loan if you reaffirm the mortgage? Even if you reaffirm the loan, the lender may deny your request for modification stating you do not meet certain eligibility criteria. If you have any doubts about reopening the bankruptcy case, you can consult another bankruptcy lawyer.
As far as I know, most of the judges will not allow you to reopen your bankruptcy case just for the purpose of reaffirming the mortgage. However, in certain states, the court may allow you to reopen the case so you can reaffirm the loan. However, is there any guarantee that the lender will modify your loan if you reaffirm the mortgage? Even if you reaffirm the loan, the lender may deny your request for modification stating you do not meet certain eligibility criteria. If you have any doubts about reopening the bankruptcy case, you can consult another bankruptcy lawyer.