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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 18380
Experience:  B.A.; M.B.A.; J.D.
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Im planning on moving and put my house up for sale. In 2009

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I'm planning on moving and put my house up for sale. In 2009 I filed for bankruptcy, going through my bankruptcy paperwork it states on Schedule D - Creditors Holding Secured Claims form that my mortgage was Liquidated. But on the Statement Of Intentions form it says Intention: Reaffirm. I recently checked my credit report and it says my mortgage was included in the bankruptcy.

My question is am I still obligated to pay this mortgage? or can I walk away from it?

Thank you,
Michael
Thank you for giving me the opportunity to assist you. Kindly use CONTINUE or REPLY button to ask for clarification or follow-up questions.


Did you sign Reaffirmation Agreement with the lender that was filed with the bankruptcy Court before the conclusion of your bankruptcy case?
Customer: replied 4 years ago.

No I did not

Thank you for your quick response:



Question: I'm planning on moving and put my house up for sale. In 2009 I filed for bankruptcy, going through my bankruptcy paperwork it states on Schedule D - Creditors Holding Secured Claims form that my mortgage was Liquidated. But on the Statement Of Intentions form it says Intention: Reaffirm. I recently checked my credit report and it says my mortgage was included in the bankruptcy.

My question is am I still obligated to pay this mortgage? or can I walk away from it?



Response: You are no longer obligated on the mortgage because eventhough you stated that you would reaffirm the mortgage, you did not actually sign a Reaffirmation Agreement with the lender. So, with your Discharge Order, your personal obligation on the Note was wiped out, discharged in your bankruptcy case. You can thus walk away from the mortgage because you are no legally responsible for it. Also, if the lender forecloses the mortgage for less than the amount you owe, the lender can NEVER come after you for the deficiency because your personal obligation on the mortgage has been discharged in your bankruptcy case because you did not sign Reaffirmation Agreement with the lender that was filed with the Bankruptcy Court and approved by the Bankruptcy Court.

Phillips Esq. and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.

Thank you, XXXXX XXXXX the advice.

You are quite Welcome!


Have a wonderful day,