Reaffirmation, very conflicting input---arghhhhh! help?

[shoopy]

I had a very nice chat with an attorney that I was on the verge of signing up with, but now am re-confused.

He told me that that he only knew of one bank in Michigan that required reaffirmation of mortgage for a chapter 7. Said he wasn't sure about my bank and told me to call their mortgage department and as about their reaffirmation policy. I called my bank and was told that they do require reaffirmation of mortgage (that is the answer I would have expected from them, but not necessarily true.) I have read the sticky on reaffirmation and understand why it would generally not be a good idea. But, I also thought that I was sure that Michigan does not allow banks to require reaffirmation.

Today, I made an appointment with another attorney, while talking to me, he assured me that my bank could not make me reaffirm the mortgage.

Someone is wrong!! I don't believe that anyone knows what they are talking about, and am almost to the point where I am ready to just quit paying the cards, and deal with the fallout as it occurs. I am collection proof, S.S. disability and house held tenants by the entirety with my wife.

How do I pick an attorney when I can't seem to find two that agree on what I would think would be an easy point?


Please, any and all input, and words of encouragement.

[lillymarlene]

I would interview a few more attorneys and see what the majority say. Or find one that you feel more comfortable with about everything. I'd also ask specifically what could happen if you don't reaffirm your mortgage.

[LadyInTheRed]

He told me that that he only knew of one bank in Michigan that required reaffirmation of mortgage for a chapter 7.

Might he have meant that only one bank will foreclose if you don't reafirm but stay current on payments?

Today, I made an appointment with another attorney, while talking to me, he assured me that my bank could not make me reaffirm the mortgage.

That is true. Nobody can make you reaffirm any debt. It is completely voluntary. But, there may be consequences to not reaffirming.

Instead of asking whether a lender can require you to reaffirm, maybe the question you should ask is: "If I don't reaffirm, does Michigan law and/or the terms of my mortgage allow the bank to foreclose even if I stay current on payments?"

I have yet to hear of any bank foreclosing when payments are kept up-to-date. The bank would really rather have the money than the house.

[shoopy]

...Instead of asking whether a lender can require you to reaffirm, maybe the question you should ask is: "If I don't reaffirm, does Michigan law and/or the terms of my mortgage allow the bank to foreclose even if I stay current on payments?"

I have yet to hear of any bank foreclosing when payments are kept up-to-date. The bank would really rather have the money than the house.

Thank you, that is really the question I need answered. I will be sure to ask.