In the vast majority of states, it is not necessary to reaffirm a mortgage
or other secured debt to keep the collateral. (In fact, in most cases,
reaffirming such a debt would be legal malpractice, since it provides
virtually no benefit to the client, while making them personally liable if
there is a default.)
So long as your payments are current, there is probably little to worry
about.
--
Brett
*****************************************************************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@brettweiss.com *
* www.brettweiss.com *
* *
* Small Business Estates & Estate Planning *
*****************************************************************
The Small Print: This response is for discussion purposes only. It isn't
meant to be legal advice and you shouldn't treat it as such. If you want
legal advice, speak with a local lawyer familiar with your state's laws who
can review *all* of the facts and the law applicable to your situation.
*****************************************************************
Dear Leagal Guru's,
A while ago my wife and I filed for chapter 7 bankrupcy, and our debit
was discharged. During this period we sought to re-affirm, 2 credit
cards, 1 car loan and a mortgage.
Everyone but the mortgage company sent us Re-affirmation statements,
althought we tried to obtain a statement Agreement multiple times.
Neighter my lawyer or I ever recieved any paperwork.
During this period we paid our morgage payments.
My wife and I had fallen a month behind on our mortgage during this
time but as of last week we called up the Bank holding the mortgage
and sent them a payment.
After making the payment, the bank representative told us that the
mortgage was never ever re-affirmed. I asked the representative for
details but she could give me none.
My lawyer's office called today, to let me know that indeed we were
never isssued a affirmation statement.
At this point, my mortgage payments are up to date, but I want to know
if they can now repossess my home?
-Peter
