Share post
Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

mortgage reaffirmation after modification

member profile picture

I filed bankruptcy in 2005 before the laws changed. I did not include my house or car. In 2007 the loan was purchased by CitiMortgage. In 2009 I lost my job and applied for the Home Affordable Modification the Government set up, however after 5 months of trial period payments they deceided to decline because they could not verify 6 months of income (unemployment), yet I was on it for over a year. After getting back to work I was eligible for a regular modification which ended up adding 10 yrs to my mortgage. Now I want to refinanace with another company or purchase another house and my credit report did not show payment history because I need to reaffirm the loan. Didn't the modification take care of that? Why do I need to reaffirm a loan that was modified?

A loan modification won't take care of the reaffirmation.You should have reaffirmed the mortgage when you were in bankruptcy filing and then paid off the debts. The creditor/lender would have reported the payments to the credit bureau which would have even improved your credit score. As you did not reaffirm the mortgage, the lender is not liable to report the payments to the credit bureaus.

Sub: #1 posted on Wed, 06/29/2011 - 21:34

Anna Sweeting Anna Sweeting

(Posts: 1827 | Credits: )

Page loaded in 0.194 seconds.