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Hi, my question is I filed bankruptcy in MI. it was discharged

Hi, my question is: I...
Hi, my question is: I filed bankruptcy in MI. it was discharged in 10-2008, I bought a truck and my mortgage didn't show up on my credit report in 11-2009. I contacted my mortgage company and they said a letter of reaffirmation was never file with them, therefore they can't report my principal balance or payment history to credit reporting agencies. I was wondering with that being said, I'm I still responsible for my mortgage?

Thanks,

Paul
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Answered in 2 minutes by:
1/7/2010
socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39,498
Experience: Attorney and Real Estate Broker -- Retired
Verified

If you didn't sign an affirmation agreement while in bankruptcy, then your mortgage was discharged. This means that you are not "personally" liable for the debt, i.e., the lender can't sue you for a deficiency if you default on your payments. However, the lender can still foreclose on the property if you don't make your payments according to the original loan agreement.

 

Hope this helps.

 

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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39,498
Experience: Attorney and Real Estate Broker -- Retired
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