Frequent Contributor
Posts: 403
Registered: ‎03-01-2012
Re: Anyone seen this link from Yahoo

StevenMDG wrote:

I see both sides, but If I am current on my house have a good rate and plan on keeping it why wouldn't I reaffirm keep the posiive credit, keep making the payments then in a the years to come sell??

honestly, I see way more upside to NOT reaffirming.  There are other ways you can get positive credit to help rebuild other than reaffirming the mortgage.  Not only that, but you can also sell in the years to come.  Your name is still on the deed so you'll need to sell either way to release that.  Not reaffirming is just eliminating you of future liabilities of the property.  You have almost nothing to gain and everything to lose by reaffirming.

Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 689 (08/15)
TU FICO: 650 (08/15)
EX FICO: 681 (08/15)
NFCU cashRewards $18k - NFCU Flagship Visa $18k - First Tech C.U. Cash Rewards $5k - Cap1 Venture - $10k - Barclays Apple Card $2k - Discover $1,000 - JCrew $4650