Bankruptcy

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
richinIL
New Visitor
richinIL
Posts: 1
Registered: ‎08-24-2012

Mortgage modification after ch. 7 BK

Options

‎08-24-2012 12:20 PM

Hi, I applied for a loan modification in Nov. 2011 and while this process was ongoing I filed for chapter 7 BK in march 2012. I DID NOT reaffirm any debt! I was discharged in june 2012. I started the trial period in May 2012, the permanent modification papers came in July. By signing and returning these papers did I reaffirm my debt on this mortgage? If I decide to walk away from the home am I responsible for the mortgage balance and secondary note? I have read many posts , but could not find any with my particular issue. Any help/advice appreciated.

Message 1 of 2 (335 Views)
 
Reply
Valued Contributor
StartingOver10
Posts: 1,514
Registered: ‎03-06-2010

Re: Mortgage modification after ch. 7 BK

[ Edited ]
Options

‎08-25-2012 02:08 PM - edited ‎08-25-2012 02:08 PM

richinIL wrote:

Hi, I applied for a loan modification in Nov. 2011 and while this process was ongoing I filed for chapter 7 BK in march 2012. I DID NOT reaffirm any debt! I was discharged in june 2012. I started the trial period in May 2012, the permanent modification papers came in July. By signing and returning these papers did I reaffirm my debt on this mortgage? If I decide to walk away from the home am I responsible for the mortgage balance and secondary note? I have read many posts , but could not find any with my particular issue. Any help/advice appreciated.

I think you need to contact your BK attorney and have him review the modification paperwork you signed to answer that question.

Current: TU 719 Nov 2012 and EQ 682 Nov 2012
Goal: 720 by mid 2013

In the garden now .....
Message 2 of 2 (314 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+