How and when doI reaffirm my mortgage in Chapter 7?

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How and when doI reaffirm my mortgage in Chapter 7?

I have already done a modification with the mortgage company and would like to keep the house. I don’t want to take a chance that they can come and foreclose on it years down the road. I used a paralegal to file bankruptcy but wasn’t sure on this issue.

Asked on July 18, 2011 under Bankruptcy Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Assuming you filed a proper bankruptcy and the bankruptcy court has made an order allowing you to remain as owner of record of your house provided you make the agreed upon monthly payments to the mortgage company in the future at all times, you would be entitled to remain in your house and not be worried about a subsequent foreclosure.

To ease your fears, you should obtain a copy of the bankruptcy order confirming the modification of your loan with the mortgage company and make all payments to the lender under this order. The bankruptcy order is the stepping stone for payments to your mortgage company on your home in the future.

Good luck.

 


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