Posted on: 03rd Nov, 2013 10:01 pm
Hello there... we filed bankruptcy about 6 years ago but never reaffirmed the loan. Now we have been approved for a modification. The papers they sent stated ...the escrow and a secure note agreement. If I sign these papers. Does that mean I'm liable for the mortgage again?
Hi Guest,
If you have never reaffirmed the mortgage, then getting a loan modification is quite difficult. You will have to read through the terms and conditions of the note and check out whether or not you will become personally liable for the loan. In most cases, you will become liable for the loan.
Thanks
If you have never reaffirmed the mortgage, then getting a loan modification is quite difficult. You will have to read through the terms and conditions of the note and check out whether or not you will become personally liable for the loan. In most cases, you will become liable for the loan.
Thanks
Hi Guest!
Welcome to the forums!
If you sign a secure note agreement, then there are chances that you will become liable for the mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If you sign a secure note agreement, then there are chances that you will become liable for the mortgage.
Feel free to ask if you've further queries.
Sussane