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What does it mean to Reaffirmed or NOT a Mortgage

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    What does it mean to Reaffirmed or NOT a Mortgage

    To reaffirmed or not what does it mean doing bk???

    #2
    Sorry I'm so confused, I don't want to keep our house and would like to file soon because of my credit card debt. So how does this work? If I include the house in BK the bank takes it without foreclosing?

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      #3
      AFAIK, "reaffirmation" of debt is only applicable if you're filing Ch. 7

      With that said, the bank will still have to foreclose to get the legal ownership of the house.

      Good luck.
      No person in their right mind files a Ch. 13 with lien strip pro se. I have.Therefore, please consider me insane and clinically certifiable when reading my posts, and DO NOT take them as legal advice of any kind.Thank you.

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        #4
        When you reaffirm, you restore the obligation to pay that debt after the bankruptcy. Do not reaffirm a house or car you intend to give up.

        The bank must foreclose in order to take the house back.
        Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
        (In the 'planning' stage, to file ch. 13 if/when we have to.)

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          #5
          Thanks now I understand!!!!! But do you have a BK and a foreclosure on your credit report?

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