Posted on: 15th Sep, 2010 11:32 am
chapter 7 bankruptcy 4 years ago with no reaffirmetion, mort. co. willing to modify but i need to know if this will reaffirm the mortgage. thank you
Welcome meplz,
Unless you reaffirm your mortgage, you won't be personally liable for the mortgage dues. In such a situation, the lender will not be ready to modify your loan. In my opinion, the lender will ask you to reopen your bankruptcy filing and reaffirm your mortgage. Once you do so, then he would be able to modify your loan.
Unless you reaffirm your mortgage, you won't be personally liable for the mortgage dues. In such a situation, the lender will not be ready to modify your loan. In my opinion, the lender will ask you to reopen your bankruptcy filing and reaffirm your mortgage. Once you do so, then he would be able to modify your loan.