Once BK is discharged can bank still foreclose?

[csonly]

I know this question has been asked a million times but I really need to get a better understanding. I got a call from loan mod company. My mistake, I called them thinking it was my mortgage co but then realized it wasn't so I hung up, they called back. This gentleman told me that if I do not reaffirm with my mortgage company, they will foreclose and take my house. I am current on my mortgage payments and plan to continue to do so. I'm hoping this was a scare tactic, so anyone, please tell me what you know about this. Also, at this time, we do not need to modify anyway, I just don't want to lose my home.

[IBroke]

I know this question has been asked a million times but I really need to get a better understanding. I got a call from loan mod company. My mistake, I called them thinking it was my mortgage co but then realized it wasn't so I hung up, they called back. This gentleman told me that if I do not reaffirm with my mortgage company, they will foreclose and take my house. I am current on my mortgage payments and plan to continue to do so.

Sounds like "scare-tactic" to me. I assume you indicated on your BK-documents that you want to reaffirm, right? If so, all they could "force" you to is either to reaffirm or surrender the property...BUT:

In order to do so, they would have to re-open your BK-case. This is usually not done by major lenders. The only time that happened so far was initiated by smaller credit unions.

If you are current on your mortgage, they can't just foreclose on you. Please provide us with more information - i.e. at what stage you are with your BK-filing and where you're living. That can also make a difference

[csonly]

I'm in PA. This was not my mortgage company, but a company that does loan modifications. He said it was the Obama plan. We are not going to reaffirm. We are not going to modify. We are going to stay and pay. I even called my mortgage co this morning about a question on my statement (before this modification call) asked for the BK dept and they said our loan is no longer in that dept, so anyone could have helped me. Our auto stay was lifted when we fell 44 days behind in our payment, but are now current. This guy from the loan mod company flat out said, if you don't reaffirm, they will take your home. I really don't that is true as long as we stay current. Our BK is scheduled to be discharged on 3/6/11. Had 341 meeting 2 weeks ago.

[despritfreya]

It's a scam. Your lender is not going to "hire" a loan modification company to tell you that if you do not reaffirm you lose the home so you have to apply for a loan mod. Next time the idiot calls get the name of the "company" he works for then do a search on the Ripe Off Report web site. Bet there will be a ton of complaints.

Just keep making your payments. Your lender does not want the home. It wants its money.

Des.

[tcreegan]

Hi csonly,

...gotta follow the money. If you do not reaffirm, loan mod company doesn't make any money. If you are not reaffirmed but stay current, mortgage company makes money.

Guess which happens?

There are probably some legit loan mod companies out there, but there are a host of predatory bottom feeders too. Most of what they do, you could easily do yourself w/ a little attorney back-up at the end.

My experience:

"We can negotiate better They will listen to us more than you etc"
How? Give me specifics on what access you have at what level, I will pay for that information.
Restated claims.
Repeated question. What level in the corporation can you reach? Have you ever dealt w/ GMAC? Which office?
Restated claim.
So I really have no proof you can help me?
No real answer.
Good bye

We can help you modify your mortgage!
Are you an attorney?
I'm not be we have Mr X with blah, blah credentials
When do I get to meet w/ him?
Well, actually he is too busy, but I can help you!
Are you an attorney?
No, but...
How do I know Mr X is going to do anything on my case?
We have a full staff here who will...
But no meeting w/ Mr X, no way to know if he does anything for me...
Repeat sales pitch
Goodby

We can help you blah, blah, blah
What do you charge?
Well, we don't charge anything until we have all your information
Then what do you charge?
Well, first...
You can't tell me what you charge? Ballpark figure, doesn't need to be exact.
Well, I can't tell you until I get your information..
How about 'pay for performance' you get the mod, you get X dollars?
Well, it doesn't work that way...
You claim to do hundreds of these mods and you can't give me a ballpark figure on cost?
Well, it doesn't work that way..
Goodby

[IBroke]

It's a scam. Your lender is not going to "hire" a loan modification company to tell you that if you do not reaffirm you lose the home so you have to apply for a loan mod. Next time the idiot calls get the name of the "company" he works for then do a search on the Ripe Off Report web site. Bet there will be a ton of complaints.

Just keep making your payments. Your lender does not want the home. It wants its money.

Des.

Exactly. A reason why this guy from the loan mod company made this claim could be that he wants you to "sell" a mod - BUT if your mortgage is discharged and not reaffirmed, there is nothing to modify....

[btbeme]

Current on payments = no foreclosure. Simple as that.

FYI - my mortgage bank ignored my requests for loan modification until about 12 seconds after my discharge, whereupon they called me to see if I needed a loan mod. Since we are about a quarter-mil upside down, we did not reaffirm, nor will we agree to any loan mod that does not make good fiscal sense. They can have the house. I'll keep my money and rent for a couple years.