Legal Question in Bankruptcy in Massachusetts

Reaffirm a mortgage

If I chose not to reaffirm both of my mortgages as part of my Chapter 7, but continue to be current on bith mortgages, does the lender have an legal recourse in taking the home from me at any time, since the debt has technically been discharged at that point?

Thanks


Asked on 3/20/08, 8:32 am

3 Answers from Attorneys
Christopher Di Giacomo Di Giacomo & Gruss

Re: Reaffirm a mortgage

If you continue payments, then there is no risk. However, if you do fall behind at anytime, either mortgage company can start a foreclosure. Remember a Chapter 7 only discharges unsecured debt. They do not discharge any missed mortgage payments. Be careful.

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Answered on 3/20/08, 10:37 am
Christopher Di Giacomo Di Giacomo & Gruss

Re: Reaffirm a mortgage

If you continue payments, then there is no risk. However, if you do fall behind at anytime, either mortgage company can start a foreclosure. Remember a Chapter 7 only discharges unsecured debt. They do not discharge any missed mortgage payments. Be careful.

Read more
Answered on 3/20/08, 10:37 am
Christopher Di Giacomo Di Giacomo & Gruss

Re: Reaffirm a mortgage

If you continue payments, then there is no risk. However, if you do fall behind at anytime, either mortgage company can start a foreclosure. Remember a Chapter 7 only discharges unsecured debt. They do not discharge any missed mortgage payments. Be careful.

Read more
Answered on 3/20/08, 10:37 am


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