Posted on: 06th Apr, 2011 08:42 pm
If my mortgage was discharged in a chapter 7 bk, can I stay in the house and if so can I negotiate a lower payment ? also since it was discharged what determines the payments?
Hi drking,
If you've reaffirmed the loan when you were in bankruptcy, then you'll have to make regular payments to the lender in order to save the property. In such a situation, you can negotiate for a lower payment.
Thanks
If you've reaffirmed the loan when you were in bankruptcy, then you'll have to make regular payments to the lender in order to save the property. In such a situation, you can negotiate for a lower payment.
Thanks
i did not reaffirm the loan
Hi drking!
Welcome to forums!
As you did not reaffirm the loan, you can stay in the property as long as you make the payments. As you're not personally liable for the payments as you didn't reaffirm the loan, the lender may not lower your payments.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you did not reaffirm the loan, you can stay in the property as long as you make the payments. As you're not personally liable for the payments as you didn't reaffirm the loan, the lender may not lower your payments.
Feel free to ask if you've further queries.
Sussane