Posted on: 26th Aug, 2010 08:26 am
we have just finished chapter 7 bankruptcy. our home did not get reaffirmed. is this something i need to worry about. we have 1/2 the equity of the home value, if not a little bit more in it. will the bank try to take it from us?
Welcome Helen,
As you haven't reaffirmed the mortgage, there are chances that the lender will foreclose the property if you don't make the payments on time. The foreclosure will help him in recovering the balance mortgage dues.
As you haven't reaffirmed the mortgage, there are chances that the lender will foreclose the property if you don't make the payments on time. The foreclosure will help him in recovering the balance mortgage dues.