Anyone with info on Ditech

[RickInMich]

Hi,

We are in the planning stages of BK having met with an attorny this week. Truthfully, we are not certain we want to keep our house. Between our first mortgage with Countrywide and our second mortgage with Ditech, we owe more than the house is worth! Now, I just read a thread where apparently Countrywide does not do reaffirmations. Basically, as long as you continue to pay, they're fine with the status quo. I actually like that concept as I do not want to tie myself down with that obligation.

But then there's that Ditech loan. Does anyone know what their policy is regarding reaffirmations? I really would just prefer not to affirm. Most likely, we'll let our house go anyway.

Rick

[lrprn]

But then there's that Ditech loan. Does anyone know what their policy is regarding reaffirmations? I really would just prefer not to affirm. Most likely, we'll let our house go anyway.

Since DiTech is a second, they are not likely to foreclose under any circumstances because lender #1 will have to be paid in full first before DiTech gets whatever is left over, if anything.

Given that you think you think there's a good chance you may let the house go, I would not reaffirm your second mortgage. Just keep paying both mortgages on time as long as you want to keep the house - that's the trick when you don't reaffirm.