Did not reaffirm mortgage but stayed in home
WebAug 28, 2012 · We did not reaffirm our mortgage & recently tried to remortgage under the new harp loan with our current mortgage company but they refused to do it unless we … WebMay 18, 2011 · filed chap 7 in 2009. Did not reaffirm my house, but did get a loan modification right after the bankruptcy. My payments do not show on my credit report as a mortgage. I have been paying my mortgage ever since. I am thinking of leaving since I am way upside down. I am in Florida. Any idea how long I can go without paying and still …
Did not reaffirm mortgage but stayed in home
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WebReaffirmation agreements generally benefit the mortgage company, not you. When you sign a reaffirmation agreement, this effectively waives the discharge you would have … WebApr 28, 2008 · As you have not reaffirmed you do not have any personal liability to the lender. You can simply walk away if the lender forecloses. I think you cannot be sued for the unpaid debt as you have not reaffirmed the mortgage. Feel free to ask if you have any further questions. If the housing dept. has forgiven the debt, it won't come after you for ...
WebAug 28, 2012 · We did not reaffirm our mortgage & recently tried to remortgage under the new harp loan with our current mortgage company but they refused to do it unless we reaffirmed first. ... We were now thinking that we may have more luck trying to get a home equity loan to finish the garage. Dorothy G Bunce View Profile . 4.9047619047619 stars … WebAside from a rare minority ruling on this subject, the debtor can be assured that he/she does not need to reaffirm the mortgage to stay in the home. What the debtor must do to stay in the home is to continue to pay on the mortgage. However, this is true whether or not the debtor filed bankruptcy or not. The bankruptcy debtor should in fact be ...
WebDecember 2024 UPDATE: When Fannie Mae changed the waiting periods for a foreclosure on a mortgage included in bankruptcy in 2014, there are still lenders and underwriters … WebDec 6, 2010 · Therefore, reaffirming debt on a home is a serious legal question. For example, if you file a Chapter 7 bankruptcy case, your home is worth $200,000.00 and you owe $240,000.00 on it. You can file a Chapter 7 bankruptcy case, move to another home and get discharged from the debt owed to your mortgage company.
WebDebtors do not have to reaffirm a mortgage debt. Most Debtors Should Not Re-affirm a Mortgage Generally, there is no reason to reaffirm a mortgage obligation unless the …
WebSep 27, 2011 · The recorded lien will stay on the home and you will not be able to borrow on it or sell the home without paying them off or settling with them even if the housing crash reverses. ... (or equal to) the balance on the first mortgage and there is absolutely no value left to secure the 2nd mortgage (close does not do it); however, this can only be ... city of tomball etjWebDec 15, 2016 · We did not reaffirm the mortgage. I kept the house. I struggled the first few months and decided I would sell the house. So during that time I fell behind on my payments. I made some renovations to get it ready to sell. I also borrowed money from a family member to complete renovations, and they put a lien on the home for that loan. city of tomball engineerWebObtain a reaffirmation agreement form. The mortgage lender or bankruptcy trustee can provide this document. The standard practice is for the mortgage lender to prepare the … do the habsburgs still existWebJun 17, 2011 · You are not required to file a reaffirmation agreement for real property. It sounds like what you did was indicate that you intended to to reaffirm your mortgage on … city of tomball engineeringWebJun 5, 2024 · A bankruptcy discharge does not completely extinguish the prepetition debt. While the debtor’s in personam (personal) liability for the debt is discharged, the discharge does not extinguish a creditor’s in rem rights to foreclose on the property against which it holds a lien (see Johnson v. Home State Bank, 501 U.S. 78, 82–83 (1991); Long v. city of tomball gasWebOct 1, 2012 · My husband and I filed Chapter 7 bankruptcy and it was discharged in May 2010. We did not reaffirm our mortgage, but have stayed in the house and continued … city of tomball fire departmentWebMay 31, 2012 · If you received a discharge in bankruptcy AND you DID NOT reaffirm either of the debts secured by the mortgages, you can just stop making payments and live in … city of tomball elections