Posted on: 05th Nov, 2009 08:54 pm
:( didn't reaffirm want to know if the lender will lower our monthly payments or should we just let them foreclose
As you did not reaffirm the debts, you would not be personally liable for the debts. In such a situation, the lender would not lower your monthly payments. If you cannot afford paying the loan, then it's better to let the lender foreclose the property.