advice on mortgage strategy thought

[blncd1]

O.k. i am trying to maximize (save up AGAIN) our stay in our house since the bank screwed us took our savings and gave us no loan mod. here goes:
can you file chpt 7, keep current on 1st stop 2/3rd's and say you will reaffirm the first?
i realize the 2/3 can foreclose but my thinking is that they will take longer than the first since we were in the loss mitigation dept. and bells will go off once we miss a payment.

[BobMango]

There is no reason to reaffirm the 1st if you have little hope of paying on the other loans. Eventually you will be forced out and will be responsible for the deficiency balance to the 1st mortgage holder.

A better strategy is to get current on all loans, not reaffirm and stay in the house if you can. This only makes sense if your payments are less than what you could rent for and you have a good amount of equity in the place.

Don't make the emotional mistake of trying to stay in the house if it does not make economic sense. This is your opportunity for a fresh start. Don't screw it up by recommitting to a huge amount of debt that you may not be able to afford.