Posted on: 04th Aug, 2009 08:17 pm
If my Mortgage was discharged and say I can't obtain a reasonable workout with my current lender in my current home, If I leave this house and attempt to purchase another, will I be required to show it as a current payment?
Should I walk if I'm in over the home value (=$200,000)?
Should I walk if I'm in over the home value (=$200,000)?
if you do not reaffirm your mortgage after your chapter 7 bankruptcy has been discharged, then you can surrender the property to your lender. you won't be able to buy a property immediately after chapter 7 bankruptcy is discharged. you will have to wait for 4 years in order to get a conventional mortgage and 2 years in order to get a fha loan.