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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I Filed Bankruptcy about 6 years ago. I remained in my home

Resolved Question:

I Filed Bankruptcy about 6 years ago. I remained in my home because I wanted to stay. As I have no children, I wanted to continue paying the mortgage and put it on my taxes as opposed to renting. Each statement that I receive from the mortgate company says that this is not a request for payment. I pay monthly and am not late. The home has depreciated with the economy. I don't think I can sell it. My questions are: How long can I continue to do this without reaffirming the loan or becoming responsible for the payments?
Should I take advantage of this and move?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

Thank you for your question. If my answer is not clear to you, I encourage you to ask me for clarification by using the reply button.

You can continue to live in the home without reaffirming indefinitely provided you continue to make the payments.

Conversely, if you do not make the payments, the lender can foreclose on the property but cannot file suit against you to collect any deficiency

Please let me know if you have any questions concerning my answer.
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