? 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?

[sobroke]

It sounds like you have a few angels on your side! I am 99% sure that you can walk away as long as you didn't reaffirm. Good luck.

[Minnymouth]

YES - THIS TIME YOUR LAWYER DID YOU A FAVOR IN DISQUISE.....

As long as you did not sign reaffirm papers you can walk away from the home - let them foreclose on it - and have the balance included in your bankruptcy....

Since you did not reaffirm you are making voluntary payments on your mortgage.....

If you plan on surrendering the home - quit making payments - save your money - and let them go thru the process of foreclosure (bout 3-6 months, sometimes longer).

Now if you decided to STAY THERE - make SURE you miss no payments...... since you didn't sign a reaffirm agreement. IF YOU MISS PAYMENTS, then the bank can start foreclosure on you at any time.....

Now if you DID REAFFIRM - then decided to surrender the home - they can foreclose and you will be responsible for any balance due after the sale...... (because it is not included in your bankruptcy)....

[concerned]

Minneymouth

Any chance they can reopen the file and change someone to a Ch. 13? I have heard from others this is highly unlikely.

[Minnymouth]

Concerned,
Since you were under a Chapter 7 and discharged in July, chances of them reopening your case and putting you under a Chapter 13 is "highly unlikely"......
In order to do that the Trustee would:
1. Have to have a good reason to reopen your case.
2. Their has to be an inheirtance or lottery win with money involved that he could use to pay creditors.
3. He has to have found an hidden asset that he can sell if he reopens your case......

So chances of your case being re-opened (probably won't happen and chances of being put in a Chapter 13 after discharge - is ZERO.....

Hope this helps,