Chapter 7 discharge - January, 2010, we did not reaffirm first or second mortgage due to house being way underwater. First mortgage is with Wells Fargo (approx $222k) and second is a home equity loc with BOA ($15k). For a while we were doing pay through but we are moving to a new city next month so we stopped paying mortgage back in December and house is currently in foreclosure.
The second mortgage was set up with automatic deduction from our checking account so it is not behind. We are changing to a new bank next week when we move. My question is, what will happen with the second mortgage? Would we still be held liable for the $15k even though we did not reaffirm it? Our credit report shows both as "included in bankruptcy". Thanks!
The second mortgage was set up with automatic deduction from our checking account so it is not behind. We are changing to a new bank next week when we move. My question is, what will happen with the second mortgage? Would we still be held liable for the $15k even though we did not reaffirm it? Our credit report shows both as "included in bankruptcy". Thanks!
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