OK, Chapter 7 filed, 341 meeting completed in May, 60 day waiting period is complete. Everything is done except discharge but I wanted to re-affirm my mortgage.
Of course, I call Bank of america and talk to 3 different people and get 3 difference answers regarding this. My attorney who naturally I don't trust and at this point, he just wants to be done with it anyway, no point in him caring if I reaffirm or not.
But he said, that BOA does not re-affirm home loans. Is this correct? Because when I called, if that was the case, I assume the 3 people I talked with would have told me that.
Also, my attorney said it is better not to reaffirm. I understand that as long as I am current, BOA "likely" will not kick me out of house but am not comfortable with the fact if they wanted to, they could. That I have no legal recourse on this without reaffirmation agreement. Is that correct?
I have some decent equity in the house esp. once ecomomy and housing values go back up, but it seems I am just paying rent and if something happens to me and I fall 30 days behind, they do not even have to start forclusure process, they can simply kick me out and if they do that and I have 20K worth of equity, what happens?
If this is all true, why wouldn't they just wait until most money is paid off on house and then kick someone out?
Please tell me what you know in these situations.
Of course, I call Bank of america and talk to 3 different people and get 3 difference answers regarding this. My attorney who naturally I don't trust and at this point, he just wants to be done with it anyway, no point in him caring if I reaffirm or not.
But he said, that BOA does not re-affirm home loans. Is this correct? Because when I called, if that was the case, I assume the 3 people I talked with would have told me that.
Also, my attorney said it is better not to reaffirm. I understand that as long as I am current, BOA "likely" will not kick me out of house but am not comfortable with the fact if they wanted to, they could. That I have no legal recourse on this without reaffirmation agreement. Is that correct?
I have some decent equity in the house esp. once ecomomy and housing values go back up, but it seems I am just paying rent and if something happens to me and I fall 30 days behind, they do not even have to start forclusure process, they can simply kick me out and if they do that and I have 20K worth of equity, what happens?
If this is all true, why wouldn't they just wait until most money is paid off on house and then kick someone out?
Please tell me what you know in these situations.
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