2 quick questions for ya

[TRfromillino]

Recieved my reaffirmation papers from my lawyer today to go over.

#1: If the lawyer signs off on these papers, say I do, and then the bank signs, does the trustee ever look at them? Or is it just the judge when the lawyer presumes undue hardship and you have a hearing?

#2: I noticed that in the reaffirmation they did not include the escrow in my payment which of course makes it look lower. That's not part of my mortgage that I owe, so I understand why they didn't. What I'm curious about is, would they continue to pay those like they are now with my normal payment or are they discontinuing that service?

[btbeme]

#1 - I personally don't know; but:

#2 - the impound account for taxes and insurance will continue. Your payment (which I assume includes taxes and insurance) should stay the same and the third parties should get paid by the bank out of escrow just the same as before.

FYI - banks will generally continue to pay for the taxes and insurance even if you bail on the house later, until it is sold. They want their asset protected (insurance) and they don't want the county to auction it off from underneath them for a paltry tax bill. Not always, but generally.

[despritfreya]

The Trustee has nothing to do with a reaffirmation agreement. That is between you, the lender and the judge.

Des.

[TRfromillino]

Des, and I wouldn't see the judge at all unless my attorney doesn't sign the agreement, right?

I found it strange that the lawyer, who has been so adamant of the reaffirmation or surrender, did not sign them before he sent them down to me. He did check off the 'no presumption of undue hardship', even tho I have .05 disposable income per month...lol He could be waiting for me to sign them before he does. Really doesn't matter, I'm not sending them back, but it's kind of interesting to see.