reaffirmation on joint bankruptcy

My husband and I filed a joint BK 7 petition last year. He reaffirmed the mortgage debt, while I did not. (We have not lived together for the past 2 years and he is living in the residence). After running my free annual credit report, I have found his payments on the mortgage are sporadic and I am certain that they are going to foreclose on the house soon. I have 3 questions:

1. If the mortgage was discharged under my name, why is it still being reported to the credit bureaus under my name?
2. If he reaffirmed the original mortgage, and because I am listed on it, am I going to be responsible for any shortcomings in foreclosure?
3. How do I get my name off of the mortgage? Refinancing is not an option.

Thank you in advance!

It is still going to report for 7 years....filing bankruptcy doesnt remove the trade line.


Quit claim probably.

Our bankrutpcy expert should be around soon.

As far as I can understand, you and your husband jointly owned the mortgage. As he had reaffirmed the mortgage, he is personally liable for the mortgage payments. As the mortgage has your name in it, it will also be reported to your credit report. However, you can request your lender to not report it to the credit bureaus as you haven't reaffirmed the debt and you're not personally liable for paying it. It will be the lender's discretion whether or not he will consider your request.

As your husband reaffirmed the original mortgage and as your name is mentioned on it, there are chances that the lender may come after you for the deficient balance after foreclosure. However, as you haven't reaffirmed the loan, you may refuse to the pay the deficient balance resulting from the sale of the property.

A quitclaim deed won't help you in removing your name from the mortgage docs. This deed is used to transfer property from one person to another. If you want to remove your name from the mortgage, you will have to ask your husband to refinance the mortgage. You won't have to refinance. However, it might be difficult for him to refinance the mortgage immediately after a bankruptcy discharge. So, there are high chances that the mortgage will include your name. You may not be able to remove your name from the mortgage now.

How can they come after the poster if it was listed in the bankruptcy and the poster did not affirm?? They would be able to simply walk away.

Hi Soaplady... Well, I guess you missed out the last part of the paragraph while quoting it from my answer . I have clearly mentioned there that the poster may very well refuse to pay the deficient balance if he/she hasn't reaffirmed the loan:

I have contacted the 2 credit reporting agencies that had the debt listed under my name, one has removed it and the other has not.

The house is now in foreclosure, so at least it will only be listed by one reporting agency.

I was wondering though, even though the bankruptcy takes care of my financial obligation to repay the mortgage, am I going to be responsible for paying legal/court fees in the foreclosure action?

A little late but. . .

[QUOTE] My husband and I filed a joint BK 7. . ./QUOTE]

It should show up as IIB (included in bk) on the report. If it doesn’t file a dispute and send a copy of the discharge along with a copy of the reaffirmation agreement that you DID NOT sign.

If you did not sign the reaffirmation agreement then it is no longer your debt. If he signed it and the home is located in a "recourse state", if and when the property is lost to a foreclosure, he will be responsible for the deficiency claim.

Technically you are "off the mortgage" in that you did not reaffirm and your obligation to pay was discharged. To officially remove you from the account the lender will have to be paid through some sort of refinancing.
　
No. Your obligation to pay anything to the lender ended with the Chapter 7. If the lender asks for payment of any kind it is violating your discharge. However, since your husband signed a Reaffirmation Agreement, and assuming it was approved by the Court, he will be responsible for any deficiency claim if the home is located in a "recourse state". Can't imagine why he signed such a document. Possibly a very bad thing to do.

Des.