Ch 7 discharged, did not sign reaffirm agreement w/Bank, cannot pay mtg anymore???

[jesseg]

Hi there,

I filed Ch 7 bk in Oct 2010, was discharged Feb 2011 (married, filed by myself, husband's credit is good). I never signed a reaffirm agreement w/the bank for my mortgage (which is joint w/my spouse). I have been paying my mortgage on time, even through the bk process. Now we have gotten to the point where we can no longer afford our monthly payment. My question is, does not signing the agreement with the bank have any affect on a possible foreclosure? Also, does anyone have experience w/foreclosure in NJ, specifically w/Bank of America? Like how long the whole process takes? We have a 1st mortgage. Makret value for our house is probably close to about what we owe on the mortgage. Any insight would be greatly appreciated.

[AngelinaCatHub]

Since you were married and your husband is also on the mortgage, you are off the hook but hubby may have a problem as cosigner. He was not bked and was not discharged, you were. He may have to bk on his own or get stuck with a deficiency Judgment. Your reaffirmation if signed is probably moot since hubby is joint owner. Can't answer your B of A or local NJ situations as I'm not familiar with your area. 'Hub


EDIT: P. S. Yes of course the house will eventually be foreclosed on.