Posted on: 19th Apr, 2012 09:08 am
I filed a chapter 7, and it has been discharged, and my home was included in the chapter 7, now I want to see whether I can get a loan modification, my morgage company never said anything about reaffirming the loan, is there a different, if I accept the loan modification, is that telling the mortgage company that the loan has been reaffirmed?
Hi saemonk!
Welcome to forums!
Unless you reaffirm your loan, you aren't personally liable for paying it off. In such a situation, the lender won't be ready to modify your loan. You should have reaffirmed your loan when you were in bankruptcy filing and then applied for a loan modification.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Unless you reaffirm your loan, you aren't personally liable for paying it off. In such a situation, the lender won't be ready to modify your loan. You should have reaffirmed your loan when you were in bankruptcy filing and then applied for a loan modification.
Feel free to ask if you've further queries.
Sussane
Welcome saemonk,
As stated above by Sussane, reaffirmation will make you personally liable for the mortgage. If you want a loan modification, you will have to re-open your bankruptcy filing and reaffirm the loan. Then you should contact the lender for mortgage modification.
As stated above by Sussane, reaffirmation will make you personally liable for the mortgage. If you want a loan modification, you will have to re-open your bankruptcy filing and reaffirm the loan. Then you should contact the lender for mortgage modification.