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    #1

    Ride through

    Can a mortgage company take the house if we do not reaffirm the loan, but continue with payments, insurance, taxes and maintenance? (I know we need to NEVER be late.)

    Also- my taxes and insurance are in the loan payment...so if I pay BofA will they continue to pay those payments?

    Does it work the same with the car? Pay and keep, no new contract? No official obligation?

    House and car payments are current.
    I am not an attorney. I am just a fellow passenger on a sinking ship. Anything posted above is my opinion or best guess, and nothing more.
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    #2
    Yes, I did a "ride-through" on both my home and cars...no obligation. In fact, I just "turned in my car" to the dealer...
    May 2008 Hired 1st Attorney/Stopped paying CCs
    May 21, 2009 Retained 2nd Attorney
    May 28th - Filed for Ch 7 (FINALLY!)
    9/11/09 - DISCHARGED!!!!

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      #3
      ride through

      Hello Maine,

      A ride through is where you do not sign a contract with the mortgage/finance company and keep making payments.

      They do not have to do this, some companies do and some don't.
      Find out what your company does.

      They can take your house/car unless a specific state law protects you.
      (federal bankruptcy law does not)
      Check your state consumer protection laws.

      These are highly variable, do some research specific to your company and your state.

      Be careful,

      Tom in Colo
      Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010

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