Mortgage after filing - no reaffirmation

[coolmom04]

I am sorry to ask another reaffirmation question, but I couldn't find an answer. Right now, our mortgage payment is 1479/month including taxes and insurance. After we file, will WF still pay the escrow or do we need to only send the actual mortgage payment and then set up our own escrow or something for the taxes & insurance?

Another question - will we still get to claim the interest paid on the mortgage on our taxes even if there really ISNT a mortgage anymore?

So confusing.

[Mensa1]

Yes... and

Yes... but there still is a mortgage. A mortgage is the instrument that is recorded at the courthouse, which secured the lender to the property or vice versa in the event that you do not pay, they can still foreclose. Whether you reaffirm or not the mortgage is not affected one bit. What is affected is the NOTE, which is your promise to pay and makes you personally liable. The responsibility for you to pay under the note is what is discharged by a Ch 7 Bk if you didn't/don't reaffirm.

[coolmom04]

Thank you for that explanation! That makes more sense to me now