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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17248
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My problem is a little strange. My second mortgage was reaffirmed

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My problem is a little strange. My second mortgage was reaffirmed and my first , i was told would automatically be reaffirmed according to Georgia State law. I have discovered that is not the case, The first mortgage will not be reporting as it has been discharged in a Chapter 7. I called to mortgage company and they told me i had to reaffirm before discharge. I called my attorney and he said that is not true for first mortgages. So now i have conflicting stories and I hate to know that after 30 years of payments, the account will not reflect on my credit. Any thoughts?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
how long ago was the bankruptcy, and why did your attorney advise you not to reaffirm the first anyway? what harm would it have done, bankruptcy law is federal law mostly not state and federal law require reaffimation of any debts you want to keep paying. Please advise if you are behind in any payments on the first, or if they intend to sell?
Customer: replied 7 years ago.
The case was discharged July 2009. There were no payments behind on either mortgage. My attoney only informed me that the first was not required to be reaffirmed after I found the negative report on my credit ratings. I reaffirmed other debts as to my car loan and second mortgage. I was never informed about reaffirming the first during the litigation.
Expert:  WALLSTREETESQ replied 7 years ago.
Your attorney made a major mistake, unless their is some exception for Georgia which I did not find, you should have reaffirmed the first, now it is discharged and the house will be sold, and you will owe the money on the second because you reaffirmed that one. You need to talk to a Georgia bankruptcy attorney to possibly file a motion to reopen the original case, and try to reaffirm the mortgage. You may have a case against your lawyer also.
Customer: replied 7 years ago.
After contacting my mortgage company, they have assured me that they are not looking to sell my property so long as my payment schedule is followed and the same foreclosure procedures are in place if that was to happen. I am still going to talk to another local attorney. Thanks.
Expert:  WALLSTREETESQ replied 7 years ago.
you should have them send you something in writing to assure you that they will not foreclose. Also, make sure you see what happened with your case.
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