Filed intending to reaffirm house, having second thoughts. What steps to take?

[Oblib2345]

Hi all, we filed for Chapter 7 bk on 6/15/09. We declared our intention to the lawyer and again at the 341 meeting to re-affirm on the mortgage (we have not signed anything yet or heard from the mortgage company). At work, we just learned that the are in talks to possibly sell part of a division of our company. If that happens, there is a pretty good chance that I will either lose my job or be forced to move to a different city in order to keep the job. Due to this uncertainty, we would like to not reaffirm on the mortgage so that if we have to move, we can just walk away from the house and get an apartment wherever we move to.

Do we have to do anything formal to rescind the affirmation? Our 341 meeting was on 7/15/09. Does anyone know if Citimortgage will allow a ride-thru in the state of indiana? I will contact our lawyer on Monday, but am kind of worried now and would like to know what you all think.

[DebtEnder]

You don't have to do anything. If citi does send the paperwork you can ignore it. I have countrywide/BOHell now and they never sent the paperwork. Just as well as this neighborhood is going down the drain. And yes I did state I wanted to re-affirm the debt. At the same time I also said I wanted to re-affirm my car loan with Citizens bank, I was one month behind at the time. After I filed they never returned my attorney's calls and would not take a payment. In fact filing for a relief of stay 3 weeks after I filed.

In the end I don't have the car anymore and still have the house and signed nothing on any of them.

[klandsb]

A little confused....

When u said u no longer have the car are you saying that even though you wanted to keep it and make the pmts they took it anyway ?????????

[DebtEnder]

They sent my check back and in the end the car was not worth fighting over so yes they took the car, about 4 months later.....

Course that means I was over 5 months late on it and I drove it into the ground during that 5 months. From what I have heard Citizens bank is not the brightest bank out there.