Posted on: 28th Jul, 2009 10:55 am
Yes, I included my house in chpt 7 bankrupcty and it was discharged in June 09. I tried for two years to modify my loan with no luck. Each time I call the mortgage company I have to give the same information and noone has ever called to help me. They did call every day during bankruptcy to bother me for payment though!!
I would really like to keep the house as I am making better money now and want to keep my son in the same school district. I have been trying to reaffim but the mortg co. says I can't after the bankrupcty has been discharged. What is the difference between modifying the loan and reaffiming? Also, I have seen where some people are paying their mortgage after their house has been discharged-how does this work?
As for foreclosure, is the company required to send me something certified giving me a certain # of days to vacate?
If you could give me some options I would greatly appreciate it :)
Thank you
I would really like to keep the house as I am making better money now and want to keep my son in the same school district. I have been trying to reaffim but the mortg co. says I can't after the bankrupcty has been discharged. What is the difference between modifying the loan and reaffiming? Also, I have seen where some people are paying their mortgage after their house has been discharged-how does this work?
As for foreclosure, is the company required to send me something certified giving me a certain # of days to vacate?
If you could give me some options I would greatly appreciate it :)
Thank you
hi kjo,
you can reaffirm your mortgage once your chapter 7 bankruptcy is discharged. most of the people who are paying the mortgage after the bankruptcy have actually reaffirmed their debts. a reaffirmation of your mortgage after chapter 7 bankruptcy is dismissed would make you personally responsible for the mortgage again. a loan modification, on the other hand, would be offered to you when you are facing hardship to pay off the mortgage.
in case of a foreclosure, the lender would send you a certified mail, stating that you need to vacate the house on a particular date.
take care.
you can reaffirm your mortgage once your chapter 7 bankruptcy is discharged. most of the people who are paying the mortgage after the bankruptcy have actually reaffirmed their debts. a reaffirmation of your mortgage after chapter 7 bankruptcy is dismissed would make you personally responsible for the mortgage again. a loan modification, on the other hand, would be offered to you when you are facing hardship to pay off the mortgage.
in case of a foreclosure, the lender would send you a certified mail, stating that you need to vacate the house on a particular date.
take care.