Hello all,
I got my Ch 7 discharge in 9/2007. In the petition we indicated that we intended to re-affirm our debt for our first and second mortgage. As it turned out they (the mortgage holders) never got back to us until the day of discharge.So we didn't officially sign reaffirmation agreements.. We've kept current on our loans, and in fact still are. However....here's the big problem..I work for an airline, My dept. has had a 25% staff reduction in the past month. I
dodged that bullet, and am still employed, but if oil keeps going up I doubt my employer will remain in business. I'm 49yrs old and have a pretty good salary due to my experience in the airline industry..
Anyhow, if push comes to shove, and I have to walk from my house. I'm thinking there's nothing much that can legally be done to me...I know I'll be a renter for many years, but I "think" that's the worst of it. Of course, if for some reason our "intent" to re-affirm in the BK petition places the burden to back out on us, then I could really be up the creek.
Anyone have any experience with "walking" on a house, that they intended to reaffirm, but never actually did??? Up until oil hit 100+ a barrel I thought my financial problems were behind us, we're doing the rebuilding credit shuffle,...blah, blah, blah... now this.
I got my Ch 7 discharge in 9/2007. In the petition we indicated that we intended to re-affirm our debt for our first and second mortgage. As it turned out they (the mortgage holders) never got back to us until the day of discharge.So we didn't officially sign reaffirmation agreements.. We've kept current on our loans, and in fact still are. However....here's the big problem..I work for an airline, My dept. has had a 25% staff reduction in the past month. I
dodged that bullet, and am still employed, but if oil keeps going up I doubt my employer will remain in business. I'm 49yrs old and have a pretty good salary due to my experience in the airline industry..
Anyhow, if push comes to shove, and I have to walk from my house. I'm thinking there's nothing much that can legally be done to me...I know I'll be a renter for many years, but I "think" that's the worst of it. Of course, if for some reason our "intent" to re-affirm in the BK petition places the burden to back out on us, then I could really be up the creek.
Anyone have any experience with "walking" on a house, that they intended to reaffirm, but never actually did??? Up until oil hit 100+ a barrel I thought my financial problems were behind us, we're doing the rebuilding credit shuffle,...blah, blah, blah... now this.
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