What do I do now if I filed bankruptcy 3 years ago and thought my mortgage had been reaffirmed but have recently found out it was not?
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What do I do now if I filed bankruptcy 3 years ago and thought my mortgage had been reaffirmed but have recently found out it was not?
I have continued to make my payments but credit report shows mortgage was discharged in bankruptcy. What are my options?
Asked on November 15, 2011 under Bankruptcy Law, Kansas
Answers:
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 12 years ago | Contributor
What options did you want? You have the best of both worlds right now. You get to keep your home if you maintain the payments, and have no further obligation in the future should you default on the payments and the property is sold for a loss.
There's no way to do a reaffirmation agreement now, but if you want to be obligated on the loan and have it reported on your credit report, you can refinance the loan which would be a new contract.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 12 years ago | Contributor
What options did you want? You have the best of both worlds right now. You get to keep your home if you maintain the payments, and have no further obligation in the future should you default on the payments and the property is sold for a loss.
There's no way to do a reaffirmation agreement now, but if you want to be obligated on the loan and have it reported on your credit report, you can refinance the loan which would be a new contract.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
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