Had a different question last week, from someone who did not reaffirm her mortgage in her Chapter 7 case, kept current on the payments, but wanted to pay off the balance for less than what was owed on the mortgage balance. REAFFIRMATION Just to review, reaffirmation is the process for you to obligate yourself…
Tag Archive: mortgage payment
The House Payment In Bankruptcy Story
What can I keep paying for if I file bankruptcy? What bills do I have to stop paying if I file bankruptcy? These are common questions I get from people. Too much to cover in one post, so more later. First, let’s discuss mortgage payments. In chapter 7, if you want to keep your house,…
Avoid Foreclosure With Non-Bankruptcy Cramdown?
Is your home worth less than what you owe on the mortgage, or mortgages? That is called: underwater. This encourages people to stop paying and let mortgage foreclosure happen, even if they can afford the payments. In Michigan now, for homes that have a mortgage more than half are underwater. Tune I have been singing…
