Posted on: 12th Oct, 2009 09:18 am
I was sent papers about reaffirmation. Now i am one month behind. I noticed that on the papers that my payment is now twenty dollars more(if i agree). I was wondering DO I really have to sign the papers. If I do, can they still try and take my home. If I don't can they still take my home. I was advised by my att. not to sign. Plese help
Reaffirmation agreement is soemthign you agree to pay off the debt you owe to the lender.
if you do not agree with the payment terms you may need to talk to the lender
if you do not agree with the payment terms you may need to talk to the lender
So savior are you saying that if i don't sign it, then they can take my home anyway. Now if if don't sign, can i change my mind and sign later.
Hello Guest,
If you don't pay the mortgage, the bank can, and will, take your home. that is the reason they agreed to lend you the money in the first place, because if you could not pay it back they could sell the security (the house) to recover the loan amount.
Whether you sign or not, you don't suddenly get to live in the house free of charge forever. One way or another you will need to satisfy the loan repayments or negotiate them to a more realistic level.
you may want to consider getting a flat mate or renting out one of the rooms of the house for extra income.
If you don't pay the mortgage, the bank can, and will, take your home. that is the reason they agreed to lend you the money in the first place, because if you could not pay it back they could sell the security (the house) to recover the loan amount.
Whether you sign or not, you don't suddenly get to live in the house free of charge forever. One way or another you will need to satisfy the loan repayments or negotiate them to a more realistic level.
you may want to consider getting a flat mate or renting out one of the rooms of the house for extra income.