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I filed Chapter '7' Bankruptcy in 2006. In the last '2' years we have been through medical and financial problems. I have been layed-off from work for over a year. We are presently '4' months behind in mortgage payments. I called my attorney and mortgage company to get a copy of the affirmation agreement. nobody has one. According to my credit reports, my mortgage account is closed and no balance. I tried to get on the SAVETHEDREAM government program, but was denied, because of what is on my credit reports. All the money i paid to the mortgage company has not been reported to the credit agencies. What are my options at this point?

If you haven't reaffirmed your mortgage when you filed bankruptcy, then you're not responsible for the mortgage payments personally. Thus, the lender is also not liable to report the payments to the credit bureaus. As a result, your mortgage account status is being updated as "closed" in your credit report. Moreover, as you're not responsible for the mortgage payments personally, you won't be able to get help from the lender in order to pay off the dues. If you do not have any issues, then you can surrender the property to the lender and let him foreclose it to recover his dues. Thus, you won't have to deal with the property any longer.

Sub: #1 posted on Mon, 01/10/2011 - 19:10

Anna Sweeting Anna Sweeting

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