Reaffirmation Question

[RW3]

Hello,

I was discharged in 2009 from a Chapter 7 BK. In it my attorney reaffirmed my underwater 2nd mortgage (currently I am 180 days behind), based on what the servicer has told me over the phone their next step will most likely be to charge the loan off. I'd like to settle with them prior to but the servicer is pushing for a loan mod and wants me to submit financials.

I'm going to call their bluff and ask them to provide a signed copy of the reaffirmation agreement as I was advised not to provide financials with out seeing it. I do have a copy of the agreement I got off of PACER, and while there is a printed name there for the creditor, there is no signature, however my signature and my attorney's signature is on it.

Is the agreement valid without a creditors signature?

I would also add that the creditor sold this loan to a new servicer while my BK was being filed.

[justbroke]

In it my attorney reaffirmed my underwater 2nd mortgage (currently I am 180 days behind)

Why in the world would an attorney have you sign a reaffirmation agreement for the 2nd mortgage on a home that is underwater? There must be more to this than simply a reaffirmation. What the 2nd "partially" secured?

I'd like to settle with them prior to but the servicer is pushing for a loan mod and wants me to submit financials.

Of course they want financials, so they can determine what you can afford to pay them. Since it is likely that you didn't discharge the debt in the Chapter 7, they are in the better position.

Is the agreement valid without a creditors signature?

In many Districts, a reaffirmation agreement is not valid if the signatures of the debtor, creditor, or debtor's attorney (if required) are missing. This would be considered a deficiency. The creditor [U]must/U] sign the reaffirmation agreement. Now, whether this would still be considered to have been entered into prior to your discharge date, is what the question of law is. If anything, you could litigate that the Reaffirmation Agreement was not signed by the creditor and is thus unenforceable under 11 USC 524.

[Cogram1]

I am actually in the same boat. We filed chapter 7 and thought we reaffirmed the debt and we were missing a signature from the mortgage company and now they say it was never reaffirmed.

[RW3]

The 2nd was not partially secured at the time. per the reaffirmation agreement I pulled off of PACER it simply has the typed name of the creditor's representative in the printed name and title field, and there is not date of the creditor's acceptance either. There absolutely is no signature from them on the document anywhere. Maybe I should fax a copy to my BK attorney's office as ask him it's a binding agreement w/o a signature or date on it from the creditor?

[justbroke]

Yes, that's exactly what you should do. That is, ask your attorney if the reaffirmation agreement is binding.