I had my Attorney request the reaffirmation agreements from my mortgage Company(Wells Fargo) they declined to reaffirm? What does this mean. I have paid on this house since 1992...never missed a payment, Why would they decline...could it be that I discharged one of their CC's? Do I need to contact them my self? I also have a 2nd Mortagage with GMAC..and they have agreed to reaffirm.
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What did your lawyer say???
You have the "right to reaffirm" especially on a mortgage........... but it has to be done before discharge.
They are just mad because you included a cc that you have with them.
Be sure to continue making all payments on "time".......
As long as you make your payments on time every month they cannot force you into foreclosure........ You have to be in default for them to force you into foreclosure.
If you are behind on payments right now - then you have to have them caught up before the 341 meeting.
Talk to your lawyer about this. That's what you paying him for!!!
There are a couple of banks that are known well for doing this.
Keep us posted,
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
Im not behind on payments and never have been behind. I ask the lawyer to get the reaffirmantion papers...my 341 was Oct 27.
Heres the letter.
"Attorney" asked me to Contact Wells Fargo Home Mortgage and GMAC Mortgage on your behalf and request reaffirmation agreements from both mortgage lenders. GMAC will be sending a reaffirmation agreement to our office,which we will then forward onto you for your review and signature. However Well Fargo Home Mortgage,INC was not willing to send reaffirmation agreement regarding your home mortgage loan.
call office if you have any questions.
Im sure they would like me to default seeing that the house is 1/2 paid for.
* Just talked to the attorney again....basicly he says you cannot force the company to reafirm...it has to be a mutual agreement between the lender and debtor. Does this sound right?Last edited by Broke 2; 11-17-2005, 01:36 PM.Comment
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Originally posted by Broke 2
I personally couldn't say, but I would think as long as payments were being made, they have no legal grounds to move on you in any form..However, this is VERY strange, unless they just want to dick you around and then later relent.
Stay cool...
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This bank sees an opportunity to "make money" off of you by not reaffirming on your mortgage. By not reaffirming for you they are in a position if your late 1 day on a payment they can foreclose on you...... then sell your home and make money off you. Especially if its 1/2 paid for.....
Is there anyone that you know that would help you refinance your mortgage for you at another bank. A family member maybe.....
This could be arranged thru the trustee....
If the bank can force you into forecloser and sell your home they will get a percentage of the sale to cover their losses on the credit card amount that you discharged. This is why they are doing this... they see the equity in you home that is available if they don't reaffirm.
Wells Fargo is known for this!
Did your lawyer discuss a Chapter 13 with you? Would it work for you?
Whatever you do, make sure ALL PAYMENTS are made before the due date and in full. In fact I would make sure my payments were a month ahead in case of an emergency to protect your interest. As long as you are current on payments THEY CAN DO NOTHING and cannot force you into foreclosure or default.
Stay cool and discuss with you lawyer the options available too you....
Keep us posted,
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.Comment
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Well I called Wells fargo myself today...they told me to just have the attorney draft a reaffiirmation agreement and fax it to them. So I hope its that simple?
* also since I filed individually and its a joint debt....would this make it difficult for them to try anything?Last edited by Broke 2; 11-18-2005, 02:57 PM.Comment
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