Sorry to beat a dead horse reaffirmation ?

[monkatom]

I have read the threads on reaffirmation and am still confused/concerned.
Situation BK CHP 7 closed on 5/24/08. I kept my house which has three loans on it. The first I send a payment to National city mortgage, the second is withdrawn from my wamu account its a wamu loan, the third is also a wamu loan but does not send a statemnet and I need to go into wamu to make a payment as the amount changes each month.
My question is five years from now even though i have paid all loans on time if i go to sell could either lender say the house was given up in BK you do not own it and screw me over? I know the market is bad now and they do not want any more homes but who knows in the years to come? I did not reaffirm on the advice of my lawyer but am afraid of loosing the house in the future even if I keep up on my paymnets.
Thanks

[TomBrady]

confused and looking for clarification,

are you saying that you are not going to re-affirm your house and just continue to make payments on it hoping that they dont just show up and take the house out from under you...

If that is what you are saying, I would think that is crazy either re-affirm or dont but give up the house. Who knows what can happen in 30 yrs and someday the house will be worth much more than you owe on it.

[Cali]

I don't think anyone will come and tell you to leave your house.

[laurannm]

There are lots of posts on here about this, and basically 99% of lawyers do not recommend reaffirming, mostly because reaffirming offers little to no benefit to the debtor.

Even if you develop equity in the house over time, and you decide to sell it, you'll still get to keep the difference.

There hasn't been a single member on this board who has lost their house because they didn't reaffirm. There have been many cases in which the lender didn't even bother sending reaffirmation papers. And I have since discovered that at least in my district, on the Statement of Intentions, it has become accepted practice for lawyers\debtors to write in "debtor will retain collateral and continue to make payments".

Lenders still have to abide by your state's foreclosure laws, so as long as you make your payments on time, you'll be fine.

[monkatom]

are you saying that you are not going to re-affirm your house and just continue to make payments on it hoping that they dont just show up and take the house out from under you...

That is exactly what i am saying. Neither lendor sent reaffirmation papers our lawyer said not to worry becuase if we keep paying our payments on time they will not foreclose and when we sell we pay off balance of loans and any equity is ours to keep.

Thanks laurannm that si exactly what i wanted to hear.

[CindyLou]

I agree with lauarnnm and disagree with TomBrady.

[justplaintired]

We originally wanted to reaffirm, but after spending a major amount of time on this forum, now we will if asked but will not push it. We are current and will stay current, we wish to keep our home. As long as we aren't late, just like before BK we can stay in our home. I have read on here that even if you don't reaffirm in order to foreclose they still have to go thru the same steps with us as they would anyone else.