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Company Loan Type APR Est. Pmt.

Citimortgage and reaffirmation

Posted on: 17th Jul, 2009 04:28 pm
i bought my home in 2002. i filed a chapter 7 in feb 2004. it was discharged in june 2004. i did not file on my home. i was current with my mortgage when i filed. my mortgage was with abn amro at that time and remained with them until 9/15/2007 when abn amro sold my loan to citimortgage. they started to report to all 3 of my credit bureaus that i had filed chapter 7 on my home. i am fighting with them to resolve this but they keep stating that i didn't have a reaffirmation of the home. i have the paper that was included in my bankruptcy stating my statement of intention to reaffirm the debt. i am trying to refinance and they are screwing it all up not to mention that my credit cards have raised my interest rates due to what they are reporting. i know that some new bankruptcy law was in regards to reaffirmation was passed in 2005 but that was after my bankruptcy. citimortgage is stating that i need to reopen my bankruptcy so that it can be reaffirmed. i am confused and frustrated. i am not savy on the laws for sure but this makes no sense to me that i have to reopen something that happened 5 years ago. my account was current throughout the bankruptcy and i indicated on my statement of intentions that i wished to retain the property so what is the deal??? when i ask citimortgage they state that they have the right to report it this way to the credit bureaus and that until i reopen my bankruptcy and reaffirm with them it will remain on my credit reports. of course it costs money to do this and time. there goes my refinance. and yeah if i reopen is it going to change the discharge date?
They are trying to protect their right under the present law.

Reaffirmation is a procedure by which you agree to pay a debt that would otherwise be discharged in bankrutpcy. you may wish to keep your home, and thus may agree with your lender to continue to be responsible for the home loan. If you make the choice to "reaffirm" a debt, you will file a reaffirmation agreement with the Court, which will evaluate that agreement. It is up to the Court whether or not the agreement will be approved. Before a Court will approve a reaffirmation agreement, it must believe that the agreement:

Is voluntary;
Is in your best interest; and
Will not create an undue hardship.
Posted on: 18th Jul, 2009 12:47 am
they suck!
Posted on: 10th Feb, 2011 02:53 pm
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