As I understand it in Florida if you want to keep your home you must file a intent to reaffirm and if/when you get reaffirmation papers you MUST sign them in order to keep house.
Well, I thought we wanted to keep and we stated that we intended to reaffirm the house but now that time has passed and I am really taking a good look at things without my rose colored glasses on, we have decided that we don't want to keep the house as it is underwater more than we originally thought and no longer makes sense to keep. Now we don't want to sign any reaffirmation papers and we want a complete fresh start.
Now what happens ? I wonder if things will be different because we are in Florida. Will we be able to not sign and then stop paying the mortgage and wait for them to foreclose like people in other states do? I know that some people say they want to reaffirm but really intend to surrender and just say they want to reaffirm so that they can use their mortgage payment as an expense. Since we needed our mortgage payment as an expense I worry that my bk will get messed up because it will appear that we have to much disposable income without that mortgage payment. Is this something that I should be concerned with? Also, can I stop paying the mortgage now ( I should be discharged in mid Nov. ) or wait until after discharge.
thank you all...
Well, I thought we wanted to keep and we stated that we intended to reaffirm the house but now that time has passed and I am really taking a good look at things without my rose colored glasses on, we have decided that we don't want to keep the house as it is underwater more than we originally thought and no longer makes sense to keep. Now we don't want to sign any reaffirmation papers and we want a complete fresh start.
Now what happens ? I wonder if things will be different because we are in Florida. Will we be able to not sign and then stop paying the mortgage and wait for them to foreclose like people in other states do? I know that some people say they want to reaffirm but really intend to surrender and just say they want to reaffirm so that they can use their mortgage payment as an expense. Since we needed our mortgage payment as an expense I worry that my bk will get messed up because it will appear that we have to much disposable income without that mortgage payment. Is this something that I should be concerned with? Also, can I stop paying the mortgage now ( I should be discharged in mid Nov. ) or wait until after discharge.
thank you all...
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