Sale or Property After BK & No Reaffirmation
Date: Thu, 06/16/2011 - 21:06
After reaffirmation, you're personally liable for the debt. If y
After reaffirmation, you're personally liable for the debt. If you sell your home, then you can use that money to make payments on the debt.
Failure to reaffirm does not change your rights. So long as you
Failure to reaffirm does not change your rights. So long as you make the mortgage payments, keep the property insured and pay the property taxes as they come due, nothing changes. If you fail to do what you are suppose to do the lender can foreclose regardless of a reaffirmation agreement. You can sell the property so long as the lender is paid. Any "profit" goes to you.
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