Posted on: 30th Jul, 2011 07:09 am
We reaffirmed our mortgage. What should we expect if we walk away from our house now, 2 years after chapter 7 discharge?
Hi mgt3boys,
As you've reaffirmed your mortgage, the lender will foreclose the property if you stop making the payments and walkaway from it. Also, the lender will come after you for the deficient balance resulting from the sale of the property.
Thanks
As you've reaffirmed your mortgage, the lender will foreclose the property if you stop making the payments and walkaway from it. Also, the lender will come after you for the deficient balance resulting from the sale of the property.
Thanks