I stopped paying my first and 2nd mortgages last Feb 2011 after losing my roommate and having my monthly payments increase (a whopping loss of $1150/month!). I'm planning on filing bk in July, hopefully Ch 7, but may very well get switched to Ch 13 due to my high income (I wish they took a 5 year average...

Here is my situation. I filed a Ch7 (discharged in October 2009). I have two homes, which I did NOT reaffirm. Both have had loan modifications on the first mortgages since the BK. Both have second mortgages which I have not paid on for years, but the values are so upside down they are not looking...

I have three questions:
Why is the nod and foreclosure held against you if you filed BK?
Why are they able to leave you on the loan and continue to hurt your credit what is the purpose of BK if not to stop all the non sense?
Are mortgage lenders able to decline your loan based off...

Hi all,
I have not been here for a while and without retelling my long and boring story over again I do have a question. Was discharged in August in a chapter 7 and did not reaffirm both 1st or 2nd mortgage. We are underwater on our second mortgage by about 70,000.00...1st mortgage is now pretty...