If I filed bankruptcy 4 years ago and am now thinking of walking away, would the mortgage company be able to do anything to me besides foreclose?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I filed bankruptcy 4 years ago and am now thinking of walking away, would the mortgage company be able to do anything to me besides foreclose?
Our home value continues to plummet, we did not sign a reaffirmation, and we have been unsuccessful in refinancing because of our loan type. It is an ARM. We are now thinking of walking away. Are there any repercussions that can come from this other than the foreclosure on our record?
Asked on July 30, 2012 under Bankruptcy Law, Utah
Answers:
Terence Fenelon / Law Offices of Terence Fenelon
Answered 11 years ago | Contributor
If the current mortgage loan was included in the bankruptcy filed 4 years ago, and no reaffirmation was filed nor approved by the Court, you can walk away without liability. Was a discharge of debts granted? You didn't mention under which chapter of the code you filed.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.