I'm just wondering if anyone else was confused about this like I was.
DH and I really wanted to keep our house when we originally filed. Our Ch. 7 was discharged 3/09 and we chose the option "reaffirm" when asked what we wanted to do with our home. A job opportunity came up for us and we need to move. Houses aren't selling in our area. We thought we had reaffirmed with our 1st and 2nd lenders and were stuck with the loans forever.
After reading more forum posts and talking to our lawyer again, we now know that we can walk away, because we didn't sign reaffirmation papers. We are so relieved!
Hopefully this post will help someone else that was confused like I was. I wish they wouldn't make you mark "reaffirm" if you are going to just stay in your home and make payments, but not officially reaffirm the loan.
DH and I really wanted to keep our house when we originally filed. Our Ch. 7 was discharged 3/09 and we chose the option "reaffirm" when asked what we wanted to do with our home. A job opportunity came up for us and we need to move. Houses aren't selling in our area. We thought we had reaffirmed with our 1st and 2nd lenders and were stuck with the loans forever.
After reading more forum posts and talking to our lawyer again, we now know that we can walk away, because we didn't sign reaffirmation papers. We are so relieved!
Hopefully this post will help someone else that was confused like I was. I wish they wouldn't make you mark "reaffirm" if you are going to just stay in your home and make payments, but not officially reaffirm the loan.