Sign in to follow this  
inthewoods

Mortgage and Chapter 7

Recommended Posts

Hi, My husband and I are filing Chapter 7 and have already met with a BK attorney and did our pre paperwork. We meet with next week to go over things and sign I believe.  My understanding at the initial meeting was that we will not lose our home because if would fall under the federal exemptions.  We have about 37,000 in equity. The lawyer told us to just keeping making our mortgage payments and car payment like normal.

 

We are not behind in those things. The reason we are filing is my husband lost his job and he made a significant amount more than me and we cant pay for our debt anymore. We can live on a skeleton budget till his industry turns around in this area again.

 

Our lawyer mention that there isn't a "reaffirmation" anymore.  Just wondering if there is anything we have to do with our mortgage company or when we actual file, does the mortgage company get notified and do they do anything? If we are making our payments and not behind in anything, is it just proceed as normal?

 

Just wondering if anyone else had similar experience.

Share this post


Link to post
Share on other sites

Just follow your lawyers advice. The bk court will notify the lender of the bk filing.

They'll likely withdraw online payment access until discharge. If that happens, contact the lendes bk dept. and get a mailing address and send a check.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this