Credit Card Center Advertiser Disclosure

New Visitor
Posts: 1
Registered: ‎01-16-2013
0 Kudos

Reaffirming mortgage?

I know most say do not reaffirm, but each situation is different and I'd like some advice on mine. 


I filed chapter 7 in 7/2009.  It was mainly for credit cards.  I did not reaffirm my mortgage which started in 4/2008.  I've never missed a payment or been late.  I never plan to either...knock on wood.  I may keep the house another 26 years or I may sell it next year.  I'm not underwater (I estimate at least $20000 in equity) so I can't imagine ever walking away.  I'd simply sell it if I couldn't afford the mortgage.  I can't help but feeling I should reaffirm to have this positive item on my credit report 10 years down the road.  According to Credit Karma my score is 690 right now.  Thoughts?  

Regular Contributor
Posts: 205
Registered: ‎08-29-2007
0 Kudos

Re: Reaffirming mortgage?

Like you said every situation is different.  Similar situation, we filed because of Business Debt which led to CC debt. We filed in 1/2012 and reaffirmed our mortgage. We are not underwater and have not missed a payment. It has helped our scores and we never considered walking away from our home and that is why we kept the mortgage. Our mortgage reports every month with the past history stating that we reaffirmed our debt.

Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700

Take the FICO Fitness Challenge
Frequent Contributor
Posts: 416
Registered: ‎03-01-2012
0 Kudos

Re: Reaffirming mortgage?

In all honesty - I wouldn't


I view reaffirming as very little to gain while giving up all of your leverage.  You've been granted a get out of jail free card.  You NEVER know what the future holds and while gamble with that??


If you want to see credit progress - give it time with the right lines of credit and such - you'll gain just as much as reaffirming.


Patience is the key in all of this.  I struggled with the same thought process and same situation.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.