Georgia "Ride Through"

[mcordry]

Does anyone know if Georgia offers the "Ride Through" or the "Stay and pay" option for mortgages.  I would really like to keep my house and pay on it.

[ezdriver]

I've never heard the term "ride through" but it sound like the context for your question is bankruptcy and how it affects your mortgage and your ability to stay in the house. If that is the context for your quest, please confirm and a moderation may choose to move the thread over to the bankruptcy sections where you will have feedback for sure.

[mcordry]

yes the question is about bankruptcy.  I have also heard it called "stay and pay".  I know that I have heard never to reaffirm your mortgage, but I have never been late on a payment and I would like to  stay in my house.  And I was just curious it Georgia allows this t happen.  I have read that there are some states that do.

[ezdriver]

OK ... here's what happens to a residential property, and its mortgage, if dischared in a Ch 7 bankruptcy. The dicharge legally relieves you of the liability to pay the loan. However, the discharge does nothing to change title/ownership from you to the lender. The lender has to file seperate foreclosure case in court to force the ownership transfer to happen. Until that transfer occurs, you may continue to make your payments in which case the lender may delay taking action to kick you out or you may just stay in the house, without making payments, until the lender kicks you out via foreclosure process. Your choice.