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: Bankruptcy Law Network

Should I Reaffirm My Mortgage After Chapter 7 Bankruptcy?

By Kurt O'Keefe, Attorney at Law

Your mortgage company will probably ask you to reaffirm your mortgage after you file Chapter 7 bankruptcy. These days in our country, many homes with mortgages are underwater, worth less than what is owed on them. If you file Chapter 7 bankruptcy, your home is worth $200,000, and you owe $#240,000 on it. You can walk away from the house, you will most likely get a discharge in the Chapter 7 bankruptcy, and not have to pay anything on the note. (Unless the mortgage companyfiles an adversary pro read more

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Full post as published by Bankruptcy Law Network on June 29, 2010 (boomark / email).

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