Last question before I sign the papers...

[justbroke]

You're not confused. Your attorney JUST told you that you can have him check the box and enter "Stay and Pay". He is saying that it is up to the lender to "defend" their position if they want reaffirm, redeem, or surrender.

If you want to put "Stay and Pay" then you need to let your attorney know that you understand the implication and that you elect that the attorney do so on the SOI. Your attorney just can't tell you to do it. His advice is to surrender (and discharge) or reaffirm. You would be overriding his advice. It is REALLY up to you at this point.

[TRfromillino]

You know I was earlier, like 10 minutes ago thinking to reaffirm and then do nothing about it, but after reading that I think you may be right. He may be telling me as a lawyer that he can't do that, altho I don't know why. His secretary already told me that he wouldn't sign off on a reaffirmation for me anyway. Nor do I think anyone else would either.

[daveinIL]

You know I was earlier, like 10 minutes ago thinking to reaffirm and then do nothing about it, but after reading that I think you may be right. He may be telling me as a lawyer that he can't do that, altho I don't know why. His secretary already told me that he wouldn't sign off on a reaffirmation for me anyway. Nor do I think anyone else would either.

Are you 5th district? (Rockford) I can tell you that for us, the topic of the "Other" option was never even discussed in our 341, nor brought up in any other communications the the trustee. We also never received anything on the topic from BoA during or after the BK proceedings.

I think this is along the lines that an attorney can't advise you to drive faster than 55mph, but is also well aware of the fact that everyone on I90 drives 75mph.

[TRfromillino]

No, I'm not that far north Dave...more East Central. Well come tomorrow when i email them with my thought, it's what I'm doing. Whatever happens at the 341 happens, and I'll deal with it then. I don't know what else to do. Will take it as it comes!

[AngelinaCat]

Good luck to you! Know that you have friends here that are rooting for you!

[TRfromillino]

Thanks for all the kind words. I appreciate them. I didn't sleep well last night and am still grappling with my decision. The only solution that sounds to be the correct one is the 'other, retain and pay'. To reaffirm the debt seems absurd, and I'm willing to bet that it would be tossed out, but what if it's not? However, I could say that I'm going to reaffirm and use the extra time to decide or maybe even get a second opinion. Surrendering? I may was well just walk up to the bank and hand them my keys. I have a couple hours before I contact them with my decision and then go after work to sign the papers. Gonna be a long day....

[pinkpeanut01]

Just wanted to wish you good luck, TR. Of the two attorneys DH and I used, the one who did "Other" was the more helpful, knowledgeable, and trustworthy attorney. If I had to file again, I would do "Other -- Retain and pay," or whatever the specific language was. Anyhow, I wish you the best.

[daveinIL]

Thanks for all the kind words. I appreciate them. I didn't sleep well last night and am still grappling with my decision. The only solution that sounds to be the correct one is the 'other, retain and pay'. To reaffirm the debt seems absurd, and I'm willing to bet that it would be tossed out, but what if it's not? However, I could say that I'm going to reaffirm and use the extra time to decide or maybe even get a second opinion. Surrendering? I may was well just walk up to the bank and hand them my keys. I have a couple hours before I contact them with my decision and then go after work to sign the papers. Gonna be a long day....

If you look at the image (screen capture from my filing), you'll see that it doesn't say anything about "stay and pay". It only says "Other" and "Current".

[AngelinaCat]

DaveinIL, the link doesn't work--at least for me...

[daveinIL]

DaveinIL, the link doesn't work--at least for me...

Oh.....hmmmmmm.....

Does this one work?

Dave's "Other" selection

[TRfromillino]

lol I don't have a google account.

I sent off my email to the attorney's office, STILL arguing with myself. But in the end, not being sure what consequences I would have should have from bank with selecting 'Other', or even if my lawyer would even check it, I decided to take the safer of the bunch and checked reaffirm just to buy time. I have no plan to follow thru with it and can change my plan within the 60 days.

[AngelinaCat]

Oh.....hmmmmmm.....

Does this one work?

Dave's "Other" selection

Yes, it does--beautifully.

[df04527]

I love that....retain is checked...other is checked and then it says current....that is pretty cool and smart.

[justbroke]

It really doesn't matter what you put on the line if you check "Other". You could put "Bubble Gum"... but I'm sure that would draw more attention than it is worth!

[ld2366eh]

Sorry to jump in so late here. We are in Illinois, filed chapter 7, was 8 minus late on our mortgage, and checked other "stay pending approval of a loan mod". No questions asked. Discharged in January. Hope his helps.