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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2670
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I filed for bankruptcy last year. I did not reaffirm my mortgage

Customer Question

I filed for bankruptcy last year. I did not reaffirm my mortgage and am now negotiating with Bank of America to modify my mortgage so that I can keep the house. I also had a 2nd mortgage on the house with Chevy Chase Bank. Chevy Chase Bank has told me that whether I lose the house or not, I still have to repay the loan. This is not what I understood when I filed for bankruptcy. Is this true?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Texas Atty replied 7 years ago.
Was the note under the bankruptcy? Listed as a creditor, etc.?
Customer: replied 7 years ago.
No it was not. I was told that once the bankruptcy was final, I would be given the option to reaffirm and if I did not then I could just walk away from the mortgages.
Expert:  Texas Atty replied 7 years ago.
I'm going to send this to the bankruptcy section. I'm pretty sure I know the answer but need to be really sure. It will take a little while for it to be moved so please be patient. No need to respond because that will slow it down.
Customer: replied 7 years ago.
Relist: I still need help.
Expert:  cfortunato replied 7 years ago.
Hi DivorcedMom,
Regardless of what your intentions were when you filed, the second mortgage should have been listed somewhere in the petition. Are you sure it was not in the list of creditors, or in the Statement of Intention?
Was this a Chapter 7 or a Chapter 13 bankruptcy?
Where there any assets available that had to be surrendered to the bankruptcy court?

Edited by Christina Fortunato, Esq. on 5/16/2010 at 3:04 PM EST
Customer: replied 7 years ago.
It was Chapter 7. I did not have to surrender anything in bankruptcy court. I will check the bankruptcy papers to see if it is listed anywhere.
Expert:  cfortunato replied 7 years ago.
Okay - let me know.