my mortgage was discharged in a chapter 7. I did not reaffirm, the mortgage
my mortgage was discharged in a chapter 7. I did not reaffirm, the mortgage
my mortgage was discharged in a chapter 7. I did not reaffirm, the mortgage company has agreed to modify my loan if i agree, is this a new loan which i would be responsible or is the old loan that was discharged ? thanks drking10@comcast.net
2 Answers
Votes
Older
Newer
1
You will be responsible for the modified loan. However, as far as I know, if you do not reaffirm the loan, then the lender won't agree to modify the loan as you're not personally liable for the loan payments. So, before signing on the dotted lines, clarify the details from the lender in this regard.
1
It is true that unless you reaffirm your loan, the lender won't be ready to modify the loan. It is quite surprising that your lender has agreed to do so. Nevertheless, if the lender really modified your loan, then you will be liable for paying the modified loan.