Posted on: 06th Nov, 2012 12:13 am
We filed Chapter 7 around 7 years ago. At that time, we reaffirmed the first mortgage, but not the second. We have been paying on both. Are we liable for the second and how do we go about selling it?
Hi Candyce,
As you haven't reaffirmed the second loan, you're not personally liable for paying it. You can contact both the lenders and request them to take decision regarding selling off the property. You can even surrender the property to the lender.
Thanks,
Jerry
As you haven't reaffirmed the second loan, you're not personally liable for paying it. You can contact both the lenders and request them to take decision regarding selling off the property. You can even surrender the property to the lender.
Thanks,
Jerry
Hi Candyce,
I agree with what Jerry has said. Unless you reaffirm the loan, you are not liable for paying off that loan any further to the lender.
I agree with what Jerry has said. Unless you reaffirm the loan, you are not liable for paying off that loan any further to the lender.