? about mortgage and not reaffirming

[dylanchance3]

My husband and I filed bankrupcty ch. 7 about 8 or 9 months ago. It was discharged in July. We had told our lawyer that we wanted to reaffirm on our mortgage but somehow he did NOT! We just found this out two months ago. The thing is now mu dh got laid off and we cant afford the payments. Can we let them foreclose without being sued since we did not reaffirm on the mortgage? It shows on our credit record that it was included in bankruptcy. The payment vouchers we get in the mail say "voluntary payment" on them now instead of our regular statement. Could our lawyers mistake be a blessing in disguise? Or are we still stuck with the house?

[AAAArt]

You can walk away from the house...it was included in Bk. I suggest, however that you do it the smart way. You can get to live payment free in the house by waiting for foreclosure and abojecting to amount owed, asking for verification of amounts and questiong the Bk angle. If you can't afford the mortgage, then you prob. can't afford rent either, so live there for free as long as possible. Art

[StaciMM]

You're correct that by not signing the reaffirmation, based on current circumstances, it was probably the best outcome for you.

The foreclosure process (how long it takes, what is involved) will depend on your area. Local laws & regulations, etc. vary. It could be anywhere from 3 - 12 months. Try to use that time to save $$, since you won't be paying mortgage, and hopefully your Dh will find another job in the meantime.