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how to reaffirm mortgage after chapter 7 discharge

 · If your mortgage modification agreement was entered into prior to your chapter 7 bankruptcy filing: The terms of the modified mortgage survive the bankruptcy filing and discharge. Your personal liability on the payment obligation gets discharged in your subsequent bankruptcy, providing you do not reaffirm the mortgage debt in the bankruptcy.

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Should I Reaffirm My Mortgage Debt After Bankruptcy. – Should I Reaffirm My Mortgage Debt After Bankruptcy?. "Bankruptcy has given you the right to discharge a debt and no longer have to repay it," says Sam Tamkin, a Chicago-based real estate attorney, "If you are reaffirming that debt, you are agreeing to repay it.".

When to Reaffirm a Mortgage Reaffirming a debt is an individual choice, but reaffirmation should be carefully considered while taking into account the following factors: Reaffirming Secured Debt in Chapter 7 Bankruptcy | Nolo – When you reaffirm a debt, you agree that you will still owe the debt after your bankruptcy case ends.

If you’d like to reaffirm your personal liability for a secured debt even after a discharge from Chapter 7 bankruptcy, a reaffirmation agreement is what you need to sign with the lender. Reaffirmation agreement is usually executed for secured debts such as mortgage, car loan, RV loan etc.

In Chapter 7 bankruptcy, one way to keep the property is to reaffirm the debt. You and the lender will enter into a reaffirmation agreement and file it with the court. Generally, you can only reaffirm debt if your equity in the collateral is exempt.

How do I reaffirm mortgage note after Chapter 7 – Q&A – Avvo – You cannot reaffirm that debt now, from a 2009 Chapter 7 case that was discharged. The mortgage lien survived your discharge, though, and it was not avoided by your chapter 7 discharge.

You cannot reaffirm that debt now, from a 2009 Chapter 7 case that was discharged. The mortgage lien survived your discharge, though, and it was not avoided by your Chapter 7 discharge. You can sign a new loan agreement with the current lender, or you can sign a loan with another lender, and pay off the existing loan.

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