You do not need to reaffirm a mortgage in chapter 7 bankruptcy to refinance that mortgage. I cannot state it any more clearly. A debtor in chapter 7 bankruptcy is not required to reaffirm a mortgage debt to refinance, or purchase another home.

– If you’d like to reaffirm your personal liability for a secured debt even after a discharge from Chapter 7 bankruptcy, a reaffirmation agreement is what you need to sign with the lender. reaffirmation agreement is usually executed for secured debts such as mortgage, car loan, RV loan etc.

Requirements for Chapter 7 Reaffirmation If you reaffirm you are agreeing to be personally liable for the debt after the conclusion of the Chapter 7 bankruptcy. This means if you get in trouble and default after the bankruptcy not only can they foreclosure but the mortgage company can get a deficiency judgment and sue you to collect on it.

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Dealing with a Mortgage After Chapter 7 When You Don’t. – Dealing with a Mortgage After Chapter 7 When You Don’t Reaffirm the Loan. Submitted by Rachel R on Mon, 09/28/2015 – 9:26am.. you may have been advised by your attorney not to reaffirm your mortgage during the process – or your lender may have refused to reaffirm..

Many people who file for Chapter 7 bankruptcy don’t understand. days to change their minds after reaffirming a debt. About half said they planned to reaffirm a debt during their bankruptcy,

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What If You Want To Reaffirm After Bankruptcy? You can’t reaffirm your mortgage once the bankruptcy case is over without jumping through some additional hoops. You’re going to need to make a motion to the bankruptcy court to reopen your case for the limited purpose of entering into a reaffirmation agreement. Some courts will allow you to do so, others will not permit it. A Tool For Limited Use Only

how much will my pmi be How to Deduct private mortgage insurance (PMI) on Your Taxes – If your down payment was 10%, your PMI premiums will be less than $80 per month. What impact does this have on your income taxes? For instance, if your AGI is $100,000, you purchased a $200,000 house and your deposit was 5%.

Reaffirm or Not to Reaffirm a Mortgage after Bankruptcy. by Deborah from Missouri Ask Kate about reaffirming a mortgage in bankruptcy: You may remember Deborah who wrote me about the agony of homeownership after her bank had the audacity to raise the house payment during her mortgage modification process.