WebIf your net income is below the appropriate limits, after this second review, you can file for Chapter 7. Otherwise, you’ll need to file for Chapter 13. If you own a home with a mortgage, have other secured debts, or have assets that are worth more than the Chapter 7 exemptions, then you will need to consider a Chapter 13 bankruptcy. WebJul 5, 2011 · 1. Once the case is discharged, you cannot reaffirm. 2. There is no reason to reaffirm real estate. You can retain and pay. 3. File a Qualified Written Request with the lender for information that you need on the mortgage AND dispute the information on your credit report with the credit bureaus.
What Happens if I Don
WebJul 29, 2014 · Assets listed in your chapter 7 bankruptcy schedules become your assets, after the trustee has abandoned the asset. ... it would require a short-sale). There is no requirement that you reaffirm your home loan; reaffirmation, in and of itself, does not give you the ability to sell or not sell an asset. Report Abuse. Report Abuse. Please explain ... WebKey Takeaway: In a Chapter 7 bankruptcy, certain debts such as credit card debt and medical bills will be discharged, while others like federal tax liens, mortgages, student loan debt and domestic support obligations cannot.It is wise to consult a knowledgeable bankruptcy lawyer if you have doubts regarding your particular case. simply clean shower head with slide bar
Reaffirmation and Loan Modification Mortgage Modification
WebMany mortgage companies try to convince homeowners that they must reaffirm the mortgage on their homes if they file a Chapter 7 bankruptcy case. A reaffirmation agreement is a re-commitment of the loan by the homeowner, in which the homeowner agrees that the mortgage is “reaffirmed,” as if the bankruptcy had not taken place; in … WebJun 7, 2024 · A reaffirmation agreement is a written document that can be filed in a Chapter 7 bankruptcy case. The reaffirmation is like a contract, and it is an agreement between you and a creditor that even though you have filed bankruptcy, you agree to be on the hook and agree to pay their debt anyway. A reaffirmation agreement, especially on mortgages ... WebReaffirmation and Loan Modification. Reaffirmation agreements generally benefit the mortgage company, not you. When you sign a reaffirmation agreement, this effectively … rays baseball tv channel