Posted on: 15th Jul, 2010 09:14 pm
We had a discharged Chapter 7 in Aug. 2004. We did not reaffirm the debt on our mobile home in MO. I lost my job 7 months ago and haven't been able to get back to work and my unemployment benefits have ru n out. So we have fallen 3-4 months behind on our mortgage payments. The original contract was with a different lender than the current servicing company. They sent us a copy of the "original" contract which states a different interest rate than what we were quoted when we signed the papers about.6% more. can they foreclose on us or do we have some recourse?
Hi ludwigman,
As you did not reaffirmed the mortgage, you're not personally liable for the dues. If you stop the mortgage payments, the lender can foreclose the property but he won't come after you for the balance dues.
Thanks,
Jerry
As you did not reaffirmed the mortgage, you're not personally liable for the dues. If you stop the mortgage payments, the lender can foreclose the property but he won't come after you for the balance dues.
Thanks,
Jerry