Posted on: 12th Jul, 2011 12:35 pm
i just got married and moved into my husband's house. he filed for chapter 7 just before we got married to give us a fresh start. he is currently 5 months behind on the house payment. now that we are married we can afford to make the house payment each month, on time. the bank sent a reaffirmation agreement but wants the 5 months of late payments up front which is almost $4,000 in order to accept the reaffirmation. his attorney says that she talked to the bank and they won't consider a loan modification.
we don't have and can't come up with $4,000. however, we can start making regular payments again. we really need to keep the house. my credit is shot, too, so me taking out a new loan on the house is not possible.
how can we save the house? if we just continue to make regular payments will we avoid foreclosure?
we don't have and can't come up with $4,000. however, we can start making regular payments again. we really need to keep the house. my credit is shot, too, so me taking out a new loan on the house is not possible.
how can we save the house? if we just continue to make regular payments will we avoid foreclosure?
Hi shellygomia,
You and your husband should negotiate with the lender so that he can accept the regular payments and help you in saving your property. In case he does not agree, it will be better to surrender the property and get rid of the debts.
You and your husband should negotiate with the lender so that he can accept the regular payments and help you in saving your property. In case he does not agree, it will be better to surrender the property and get rid of the debts.