Ok, we filed BK and we were discharged last Febuary. When we filed we lived in a manufactered home. We still live in that home. When we filed out attorney did NOT reaffirm the loan on the home. Is this something I can still walk away from? As I understood it I was in a "pay and Stay" situation? So I all I would need to do is inform the mortgage compnay that I will move out, and turnover the keys, and we walk away..............unscaved??????
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Because you did not reaffirm the loan, then as long as your mortgage was a part of your bk, yes, you can walk away without owing the remainder of your home loan.Originally posted by NJdotcom View Post
However, you will have a foreclosure on your credit record in addition to the bk - a real double-whammy for future home purchases for the next 10 years. Sometimes though, you really have no choice
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I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go -
Is a loan on a manufactured home considered a mortgage?Comment
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