Posted on: 01st Aug, 2008 05:59 am
We live in Michigan. Our primary and home equity mortgages have been discharges in a recent bankruptcy. We have to move-on but annot sell our home for what we owe. Both mortgage statements each month carry the disclaimer "This is not an Attempt to Collect". We have never been late on either. Can we walk-away without our credit being damaged further if both loans were already discharged and were NOT reaffirmed? Thanks to anyone who knows this answer.
Hi wboylan.
Welcome to the forum.
I think you have filed bankruptcy chapter7 .... right? So all your properties will be sole (except the exempt properties) to pay off the lender. And as you have said all your debts are discharged, you are not bound to pay to pay but if you can reaffirm and pay off what you owe still now, that will make a positive affect on your credit report.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
I think you have filed bankruptcy chapter7 .... right? So all your properties will be sole (except the exempt properties) to pay off the lender. And as you have said all your debts are discharged, you are not bound to pay to pay but if you can reaffirm and pay off what you owe still now, that will make a positive affect on your credit report.
Feel free to ask if you have any further questions.
Best of luck,
Larry