Do mtg.'s usually ask for reaff. before discharge?

[jenopher]

We are planning on keeping our home so we qualify for Chapter 7. We would have liked to include it but then we'd have to go 13 since rent in our area is fairly low. DO mortgage's ask for reaff. after the discharge or during? If it's after then we can just not reaffirm. If it's during the 60 days then we'd have to reaffirm it, then stop payments and foreclose and get the double hit on credit. We are prepared for the double hit as that seems more likely. Any chance they won't ask till after discharge?

[Stilltheone]

We have 2 mortgages and neither company asked for a reaffirmation. Both just wanted us to continue making payments and that was fine with us! We didn't care, as long as we got to keep our house!!

Technically, to start the foreclosure process on your home, they would have to ask for a lift of stay. Once you've filed, they can't touch you and ask you for a payment.

[halloweendmb1]

when do you typically sign the reaffirm. on the mtg(s) ?

[BK2008]

My 1st mortgage doesn't do reaffirms. The 2nd wanted one, I didn't want to reaffirm.

I think as long as your current and in good standing, if you pay, you stay.
I never heard from the mortgage co's regarding my failure to reaffirm. And as long as payments are made, they can't come in and 'foreclose' on you.

[JRScott]

It depends largely on your area. Many districts still allow the ride through.

Reaffirmations are signed before discharge date if you sign them. However your lawyer and the judge generally have to sign onto them as well and many do not want to do so because the law is written such they could be liable if you default. (though that's not been tested yet).

Talk with your lawyer and see what they expect.