If the mortgage lender currently has a lien on my home and I keep my payments current, what will happen at the end of the loan?

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If the mortgage lender currently has a lien on my home and I keep my payments current, what will happen at the end of the loan?

During my bankruptcy 2 years ago, the judge discharged my home loan and would not approve a reaffirm agreement with my home lender. My lender therefore put a lien on my home. Before, during and after my bankruptcy I have continued to make payments in full and have never been late. What is going to happen in 20 years when the last payment is made? Will I completed my obligation and will the lien been removed? Will I received the deed to the home that I have been making payments for? Or am I making a mistake of continuing to make payments without a reaffirm agreement?

Asked on October 2, 2011 under Bankruptcy Law, California

Answers:

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

I think you're confusing some things here.  Your "lender" as you put it, is legally prohibited from placing a lien against your property after your bankruptcy case is filed.  I'm going to assume that this is a mortgage you are referring to, and that the lien was created prior to you filing your bankruptcy case.

In that instance, once you complete the remaining payments due on your loan, you should receive the deed to your house as the lien will have been fully satisfied.

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 10 years ago | Contributor

I think you're confusing some things here.  Your "lender" as you put it, is legally prohibited from placing a lien against your property after your bankruptcy case is filed.  I'm going to assume that this is a mortgage you are referring to, and that the lien was created prior to you filing your bankruptcy case.

In that instance, once you complete the remaining payments due on your loan, you should receive the deed to your house as the lien will have been fully satisfied.

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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