Question about reaffirmation and CC payments

[itcaughtup]

I 2nd the opinion of lrprn. Reaffirming offers zero benefit to you, and all the benefit to the lender.

As I understand it, if you do not reaffirm you should still have no problems selling down the road. If you happen to have equity when you sell then the equity is your to keep. Not sure though if you are still upside down and you sell? Are you still responsible for the difference if it was IIB?

Thats a great question, does anyone know if in fact I would be responsible for the negative balance??

[keepmine]

That's the point in not reaffirming. If you don't reaffirm, you have no responsibity for any deficiency balance should you decide to walk post bk.

[itcaughtup]

That's the point in not reaffirming. If you don't reaffirm, you have no responsibity for any deficiency balance should you decide to walk post bk.

EVER?? Five years down the road if my condo is in a negative position, I can walk with no consequences?

[jaconthemove]

Our Att. told us pretty much the same thing, but I'm still nervous about Country Wide not sending reaffirmation letter to our Att. The trustee requested one.
I just don't want any nasty surprises!