I didn't want to Thread Jack, so I started another one because I have a few reaffirmation questions that I can't find an answer to.
When I met with my atty, he said the mortgage co.'s will most probably ask me to reaffirm. He also said that even if I signed the reaffirm. agreements, I could resend it within 60 days by sending them a letter.
I know if I'm late with a payment, they can foreclose. If my payment is due on the 1st, when is it considered "late"? Does late mean after the last day of the month or does late mean any day after the 1st? If a payment is made late, will they still foreclose anyway?
Does the mortgage co. stop reporting on-time payments even though I've never been late before? If so, does this hurt my credit score?
What if the mortgage co. insists on reaffirming? Do they foreclose if I don't agree to sign it? If I cancel it, can they foreclose?
Sorry for so many questions, but I have a couple of days to decide whether to tell my atty. I want to reaffirm or not and I was considering it since I have equity in my home, but I also have liens, should I reaffirm?
When I met with my atty, he said the mortgage co.'s will most probably ask me to reaffirm. He also said that even if I signed the reaffirm. agreements, I could resend it within 60 days by sending them a letter.
I know if I'm late with a payment, they can foreclose. If my payment is due on the 1st, when is it considered "late"? Does late mean after the last day of the month or does late mean any day after the 1st? If a payment is made late, will they still foreclose anyway?
Does the mortgage co. stop reporting on-time payments even though I've never been late before? If so, does this hurt my credit score?
What if the mortgage co. insists on reaffirming? Do they foreclose if I don't agree to sign it? If I cancel it, can they foreclose?
Sorry for so many questions, but I have a couple of days to decide whether to tell my atty. I want to reaffirm or not and I was considering it since I have equity in my home, but I also have liens, should I reaffirm?