Upside down

[InSeriousDebt77]

I've been reading with interest all of the various posts about reaffirmations on a mortgage. To summarize, should I expect any issues (either with the lender or otherwise) trying to do a ride-through on a house I am way upside down on?

[lrprn]

There is no 100% right answer to give you. So far at least the filers here at BK Forum who have chosen to ride-through (not reaffirm) on a home or cars have not had issues as long as the payments stayed current during and after their bankruptcy.

Our lawyer advised that we not reaffirm our home loans or our cars in our situation and we did not. We're nearly two years into our Ch 13 and so far, so good.

[Cali]

We aren't going to reaffirm our vehicles, this was suggested by our attorney.

[InSeriousDebt77]

Thanks

I thought reaffirms only applied to Chapter 7 cases?

[CATCHMEIFYOUCAN]

I never reaffirmed my car when I converted from Ch13 to Ch7, but when I went to trade it in the same lender would not let me take out another loan with them! (Hyundai Finance), just an FYI.

Catchmeifyoucan

[lrprn]

I thought reaffirms only applied to Chapter 7 cases?

No, both Ch 7 and Ch 13 filers have to decide when the they file whether to reaffirm/redeem/surrender (or choose the unwritten rule that so far most are taking - ride through and keep making payments on time).