Being forced into my recent situation of my mortgage raffirmation papers not being filed by the LENDER with the court and now having to deal with trying to keep my home without it being reaffirmed, I have been confused about the whole "still allowed to ride through" situation. Our lender as with posters from here have told us not to worry just keep making the payments and they won't want our home. Well I want some proof of that please. So I began the search...and found this link in another post. http://www.bankruptcymedia.com/
on the left hand side going down that whole page they show the updates/and or news from the BAPCPA and under January 21, 2007 it stated this...
This part ...Under BAPCPA if the debtor fails to timely file statement of intentions within 30 days of the petition date or enter into a reaffirmation agreement within 45 days of the first meeting of creditors, the automatic stay is terminated with respect to the property affected....is what has my attention.
Technically we did both, we stated our intentions to reaffirm in the petition AND signed a reaffirmation agreement with the lender, not our fault the lender sat on it and apparently didn't file it with the court before our discharge, (we thought they did). Plus they still may have to comply with the state laws, so why make it part of the law that you have to reaffirm or surrender if the BAPCPA sorta makes a change to that? Is this why so many lawyers(ours included) and debtors are not choosing to reaffirm and creditors are still allowing "ride through's"? So I guess we really will be okay...maybe.
on the left hand side going down that whole page they show the updates/and or news from the BAPCPA and under January 21, 2007 it stated this...
This part ...Under BAPCPA if the debtor fails to timely file statement of intentions within 30 days of the petition date or enter into a reaffirmation agreement within 45 days of the first meeting of creditors, the automatic stay is terminated with respect to the property affected....is what has my attention.
Technically we did both, we stated our intentions to reaffirm in the petition AND signed a reaffirmation agreement with the lender, not our fault the lender sat on it and apparently didn't file it with the court before our discharge, (we thought they did). Plus they still may have to comply with the state laws, so why make it part of the law that you have to reaffirm or surrender if the BAPCPA sorta makes a change to that? Is this why so many lawyers(ours included) and debtors are not choosing to reaffirm and creditors are still allowing "ride through's"? So I guess we really will be okay...maybe.