I am confused, I just read on another thread that Countrywide does not do reaffirmations? What happens then? They are my 1st mortgage on my home that we are keeping. We are current on it. We hope to file chapter 7 in April but over medium so it's going to be close with my expenses. Legal consumer says I have $41 disposable left. Anyway, what happens if they don't reaffirm? I don't get credit for paying my mortgage with them once I file on my credit report? I am confused.
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"Don't let your wants overload your a**"
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I have countrywide also and I hope this is not true, we want to keep our home. -
Even if you do reaffirm there are no guarantees that any mortgage lender will show your home as anything put IIB even if you pay on time every month. They may but they don't have to show you are paying on time. It's a huge deal to some people b/c they feel that they should be getting credit for paying on time. The flip side is that if at any time that mortgage becomes too much for you to handle, you can walk away from that house free and clear and your credit report will never change. It will always say IIB. That to me is worth every penny of it not showing as being paid. I don't have that huge albatross of debt hanging over me. I'm free as a bird. LOL!11/14/07 -filed C7
12/04/07 -case pulled for random audit.
12/18/07 -341 held: Asset case due to engagement ring & tax return.
02/19/08 - US trustee files motion to extend.
04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!!Comment
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I also have Countrywide for my 1st and 2nd. I just wonder why they wouldn't want to reafirm. They way the economy is at the moment you would think that they would not want to deal with another home to sell.
They approved me with all my unsecured debt, but they would not consider approving me without the unsecured debt? Doesn't make sense to me.5/29/09 ~ filed chapter 7
7/13/09 ~ 341 meeting
10/8/09 ~ Discharged!!!
10/27/09 ~ Closed!!!
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I just found out today that BofA has bought (or merged with??) Countrywide, so now that is who you will be dealing with! The guy at BofA said that they have a huge team assigned to working with borrowers on loan modifications and BK stuff... so I would think that they are doing reaffirmations... just from what he said. He also was asking what my interest rate was on our 2nd that they just "inherited" from Countrywide, because he was wondering if it would help us out if they reduced our interest rate!!Comment
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