What happens if a mortgage is not reaffirmed in bankruptcy?
Question Details:
I read that if I don't reaffirm the mortgage and continue to adhere to the original terms of the contract, the lender can't ever force me to leave the home. 1. Is that correct? 2. If so, am I still the owner? 3. Would I still receive the interest tax benefit each year? 4. Would the lender still provide me with the appropriate interest tax statement each year or would that be at their discretion? 5. Would I be entitled to put the home on the market down the road, sell the home, and pay off the mortgage as if I never filed bankruptcy?
The answer to all your questions is yes, although I must refer you to a CPA to confirm the tax questions you asked.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
