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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 17451
Experience:  B.A.; M.B.A.; J.D.
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I have both a first a second mortgage with BoA. I am current

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I have both a first a second mortgage with BoA. I am current on both and I intend to stay current through a chapter 7. Will BoA reject my payments and force me to reaffirm? Can I lose my home if I don't reaffirm? Or is this completely up to the judge? Does anyone know how BoA handles this?
Could you clarify?

Have you already filed for Chapter 7 Bankruptcy protection?

Customer: replied 6 years ago.
I have not yet filed. But I have already verified that I do pass the means test and schedules I and J show that I have no disposable income left over monthly. In fact, it's about -100. I also should mention that my exemptions in my state allow $25K since I have a child under the age of 18. Also, I have verified that my deed has both my spouse and I jointly mentioned in the deed which I have been told protects the entire house if only I file because apparently TN is a tenancy by the entirety sate. Let me know if you need more information. I have been studying this for a while now trying to figure how to proceed. Thanks you.
Customer: replied 6 years ago.
I should also mention that I do intend to obtain a local attorney before I file. But my funds are !extremely! limited right now so I wanted to get as informed as possible.

Thank you for providing the additional information.

Now back to your original questions:

I have both a first a second mortgage with BoA. I am current on both and I intend to stay current through a chapter 7. Will BoA reject my payments and force me to reaffirm?


Response 1: Reaffirmation is voluntary. So, your lender cannot force you to reaffirm. If you are not behind on your mortgage payments and you intend to continue to make the payments, your lender cannot refuse your payments.

Can I lose my home if I don't reaffirm? Or is this completely up to the judge?

Response 2: No you cannot lose your home if you do not reaffirm. You would lose your home however, if you do not make your payments on time.

Does anyone know how BoA handles this?

Response 3: The lenders I have dealt with will not file a motion for relief from the automatic stay for authority to foreclose on their mortgages when the homeowners are up to date with their payments. I have never seen a lender foreclose on a homeowner who has filed for bankruptcy protection but the homeowner is on time with her mortgage payments.

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