Posted on: 07th May, 2010 09:16 pm
Filed a chapter 7 back in 2003 and apparently we did not reaffirm and the mortgage is not showing on our credit report. We are currently in foreclosure are we legally resposible or can we walk away clear from the debt?
Hi crazyone,
As you did not reaffirm the loan, you are not legally responsible for it. If you walkaway from the property, the lender will be able to foreclose it but he won't be able to come after you for the deficient balance.
Thanks
As you did not reaffirm the loan, you are not legally responsible for it. If you walkaway from the property, the lender will be able to foreclose it but he won't be able to come after you for the deficient balance.
Thanks