Mortgage reaffirmation - actual experiences? long...

[bkinfresno]

Not sure if my story will help or not.....

We filed January 2009. Had our 341 in February and Dishcarged in May 2009 after calling the court clerk and requesting her to do so. On our original papers we had the intention of reaffirming and did paperwork as such. We were not in a large paymnet, not upside and in fact have equity in the house, and not really past due. I believe we had one payment 30 at that time. Anyway the more I read the more we decided after we had filed and had our 341 mtg that we did not want to reaffirm. However, the istuation took care of itseld because Chase did not get their end of the paperwork done on the reaffirmation before our discharge. So we ended up with a "ride-through" anyway and very glad we did. We regained access online to our account within 2 months of discharge. We have had no trouble making payments and on time. Chase has not given us any trouble and we recently called to ask them to report our payments to the credit bureaus and they said they would. So, do I recommend that you do reaffirm....NO.....there is not any trouble with doing a "ride-through" and trust me banks right now don"t want your house. They want you to keep paying.

We are doing a ride through on our Chase Mortgage also. We were discharged almost a year ago this Feb. Our BK will close 1/30/11
I have been after Chase since the discharge to report our payments and gain access online of our account. I did manage to talk to someone in one of the branches in Dec. They did put in my mortgage comments on the credit report that the loan was being paid on time, however, the monthly payments are not being reported and some how it's reporting negative on the report and my score dived 10 points. After reading your post, I'm going to try and contact them again and hopefully will be able to get them to report everything.

[keystone58]

I'm glad I have this post, I have a question after I just looked at my credit report. We filed Ch. 7 and it was discharged last month. Our home was exempted, we did not do a reaffirmation, and I expected it to show a balance of $0 on my credit report. We have never had a late payment and are current on our mortgage. My question is, will they continue to post our ontime payments on the credit report? Is this something they have to do? This totally slipped my mind when we were going through the Ch. 7 process. Thank you.

[Snax]

keystone, my understanding is that payments should only be posted on your CR if there is an agreement between you and the bank to do so. This means they can also post lates/misses too. They apparently do not have to agree to it however.

[bkinfresno]

I'm glad I have this post, I have a question after I just looked at my credit report. We filed Ch. 7 and it was discharged last month. Our home was exempted, we did not do a reaffirmation, and I expected it to show a balance of $0 on my credit report. We have never had a late payment and are current on our mortgage. My question is, will they continue to post our ontime payments on the credit report? Is this something they have to do? This totally slipped my mind when we were going through the Ch. 7 process. Thank you.

I went into Chase and talked to a loan officer, he sent and email off and I noticed right away that my timely payments were being reported to Transunion and to Experian, but not to Equifax. Unfortunatley, my timely payments are not being figured into my credit score, so I've been trying to refinance. I certainly do not want to continue not getting credit on my timely payments so it's just a matter of finding a lender to refi without a bunch of garbage fees added.

[wantout]

My first would not reaffirm, they are letting me do a ride thru, my second told me I had to reaffirm, so I did. I wanted to with both esp since I am sitting on about $35,000 in equity. Discharged a little over 2 years and am in the process of a re-fi now.