Reaffirmation After Ch 7 Release To Obtain A Change

[Syvwkh]

(VA)We were released of our ch 7 bk in january 09. We've been looking to get a revised mortgage with BB&T because we first submitted in September 08. They dragged their feet and required a reaffirmation in late december. They didn't deliver us the documents and our bk released. They're still telling us we require a reaffirmation to be able to alter our mortgage.We mentioned within our 341 that we desired to keep consitently the home. We've not made funds (since september), on atty guidance, to induce a modification.Now I am frightened of foreclosure. We seriously wish to maintain our home and exercise financing modification.What are our choices at this time?Thanks for just about any help.

[Reynaldo]

Rick,Thanks for that response. We really caused two attys. Your BK atty called us for the change atty. She did make plenty of calls and connections using the lender that went unreturned. Nevertheless, I'm mad that she was not conscious of the very fact that reaffirmation can't be achieved after discharge.She did guide us to not pay, but did not tell us to invest the cash. We did not invest it, we merely did not have it, and that's why we were opting for the change to start with. We did have the ability to save some and we simply posted a bare contract and requested the financial institution to complete the conditions. Because The loan is unenforceable, except through foreclosure today, we're hoping they'll still use us. The home is in quite a poor state-of incomplete redesign and we do wish to create payments.What would be the likelihood of a revised mortgage agmt. With no good reaffirmation? Because lack judgments are impossible at this time, the financial institution still has got the same option with this mortgage as every other - foreclosure. They've reassured people they actually do not need the home back. But we-don't understand what to complete. Creating A payment at this time may wait foreclosure, but wouldn't it harm our modification odds?

[Charlton]

Hello Va...I sympathize with your circumstances but my reaction isn't likely to be large, particularly for your atty. Your biggest concern within the BK 7 must have visited cope with the mortgage effectively.You state that BB&T required a reaf...obviously they did. Your alternatives in Ch7 are to Reaf, Receive or submit...That's it. You might have attempted to discuss the conditions of Reaf. Was that done? Cram-down reaf, rate of interest change, clean start/renounce accrued interest. Many of these factors could be discussed in case your atty does that which you employed him to complete. I'd blame your atty to be, evidently, non-chalant about you winding up keeping the case about the greatest resource within your BK. You've to cope with the secured lenders efficiently...That's like tip #1. Iam not saying you've to roll-over for complete reaf, however the work must be achieved. Your atty has been doing you a great injustice and its own too late today...must have been handled in BK before discharge.The additional large error would be to have ceased paying the mortgage whenever you submitted...and INVESTED the cash. You might have quickly counted the cash for that mortgage should you desired to discuss from the placement of standard. In case your atty recommended you otherwise he/she is wholly inexperienced or just doesnt worry about defending your absolute best interests.Start buying good spot to lease. Live and study. Perhaps your illustration can help someone be wiser using their situation.LendrJimConsumer Money Professional& Some Man on the web