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You have a right to get credit for payment made whether or not you filed a bankruptcy. You also have a right to have accurate information given to credit reporting agencies (experian, etc.) and to have accurate reports made by the credit reporting agencies. Reaffirmation is not the answer to your problem here.
Reaffirming. mortgage debt. At minimum, it usually takes several weeks after lifting of an automatic stay to reschedule a foreclosure sale. bankruptcy’s automatic stay is only temporary, meaning.
If you don’t reaffirm your mortgage debt, however, you may be able to refinance down the line provided you still legally own the home. If it’s your intent to keep the debt and pay it, then you may as well reaffirm your debts because the positive history reported to the credit bureaus will help you refinance down the line.
You’ve declared bankruptcy. Now what? Life after bankruptcy. hang on to your house, paying your mortgage on time will improve your credit report, so long as you reaffirmed the loan while your.
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Reaffirming a mortgage debt, either during bankruptcy or after it’s been discharged, restores your liability for its repayment. Always inform your bankruptcy attorney of any request from your lender.
Most mortgage lenders do not allow you to reaffirm a loan when you are delinquent on the payments at the time you file bankruptcy. But there are some rare cases in which a lender allows you to.
The promise to repay a mortgage after bankruptcy is known as reaffirming your mortgage debt, and whether you want to take this step depends on your circumstances and the type of bankruptcy for which you have filed.
Although you’ve filed for bankruptcy, it is still possible to keep your home despite having a second mortgage on the property. You can enter into a reaffirmation agreement with the lender. By doing so, you agree to remain liable for debts secured by the property.
can you back out of a real estate contract Seller Pulled Out of Home Purchase Deal for No Reason: Now. – You then both retained real estate agents and/or attorneys, you met with your lender, and both you and the seller signed a purchase contract. Usually, a closing date is scheduled in the purchase contract, typically for four to six weeks into the future.