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Hello All,
I filed chap. 7 bankruptcy about 6 years ago, in the bankruptcy I did NOT reaffirm two mortgages I had in my name at the time. One mortgage was for my primary home, and the other mortgage was a rental that a partner and I had. The mortgage for the rental was being paid by my partner up until about 1 year ago and now that mortgage company has started foreclosure proceedings. Does anyone know how this would affect me? I'm 95% sure I not liable for re-paying any mortgage since I didn't re-affirm but I'm not sure how/if the foreclosure would affect my credit. Will the foreclosure still show up on my credit? If yes does anyone know if hiring an attorney could prevent this? Thanks for your time!!
Well did your partner refinance into their name or were you still on the mortgage?
No it wasn't refinanced... honestly I don't know the answer to if I'm still on the mortgage. It isn't/wasn't being reported on my credit, and in the foreclosure documents filed with the courts the mortgage company acknowledged me filing bankruptcy. They never attempted to contact me to collect funds or anything either.
The foreclosure action will have to name you to get your name off the deed, so it may appear on your credit as a public record. That doesn't mean you're on the hook to pay for it - if you didn't reaffirm the debt, you're not obligated to pay, and the lender isn't allowed to even try to collect.
Hello All,
I filed chap. 7 bankruptcy about 6 years ago, in the bankruptcy I did NOT reaffirm two mortgages I had in my name at the time. One mortgage was for my primary home, and the other mortgage was a rental that a partner and I had. The mortgage for the rental was being paid by my partner up until about 1 year ago and now that mortgage company has started foreclosure proceedings. Does anyone know how this would affect me? I'm 95% sure I not liable for re-paying any mortgage since I didn't re-affirm but I'm not sure how/if the foreclosure would affect my credit. Will the foreclosure still show up on my credit? If yes does anyone know if hiring an attorney could prevent this? Thanks for your time!!
Try to talk to the law firm that handled your bankruptcy about this.
.
If you go to the city/town or county where the land records are kept for that particular property, you can do a quick search of the title and find out exactly whose name is currently on any mortgage deed. You might even find that you are not even listed as an owner of that parcel.
But as others have said, and to paraphrase my friend William, "Get thee to a lawyer"; which is really ironic as he thought the first thing to do to fix the state of the world was to kill them all.
Thanks everyone for the replies!! Appreciate the assistance...
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