Posted on: 16th Feb, 2014 09:20 am
I live in California and just found out that our home loan was not reaffirmed. We filed bankruptcy 2 yrs ago and were told we could try to save our home even if our home was placed into bankruptcy. We received a letter from BOA to try to modify our loan. We went to a nearby location to do the process and informed them that we had been discharged from the bankruptcy. Within 2-3 months we received documents stating we had been modified and set the new payment and showed the reduced principal. Recently, We called the bank to get information about refinancing and were slapped in the face with the surprise that the loan is not reaffirmed! They said our bankruptcy lawyer had to reaffirm our loan? What can we do to reaffirm?
Have you tried contacting your BK atty? I would start there. If you choose to move out you will not be able to buy for a while. Banks see homes not reaffirmed as a foreclosure. It takes 3 years after you have the home transferred out of your name before FHA is an option.
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Thank you! I will try that path first.
