Reaffirmations or Ride-through?

[journey]

Could some one tell me what the diffrence is between a Reaffimation and a Ride Through.

I have a Piece of vacant propreity that i owe on my attorney said i could keep it and continue to pay payment so i thoguht we were doing a Reaffirmation but she said the judge wouldnt allow such becuase i was up side down the Vacant Propreity.

Thanks for any help here.

[Help!]

In a reaffirmation, you are formally excluding a debt from discharge and signing a new agreement to pay for that debt in full. If you fall behind on payments after discharge the creditor can take action against you including foreclosure. The creditor also would be able to sue you for any deficiency (difference between what you owe and what the property sells for at auction).

In a ride-through, you continue to make payments on the property as if your BK never happened and the lender accepts your payments but there is no formal agreement in place. If you later find you can't keep up with payments, you have the ability to walk away from the property because the debt has been discharged.