Am I liable for the mortgage payment after Chapter 7 bankruptcy? 5 Answers as of October 29, 2010

I filed Chapter 7 bankruptcy and it has been discharged. I retained my home but did not claim it as exempt. Am I still liable for the mortgage payment?

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Diana K. Zilko, Attorney at Law
Diana K. Zilko, Attorney at Law | Diana K. Zilko
The loan, technically, was discharged so you do not owe it. But the lender will require payment to allow you to stay in the property.
Answer Applies to: California
Replied: 10/29/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
I am not sure what you mean by "liable". You have no legal obligation to make the mortgage payment and will not owe anything on that loan if the property is foreclosed on, but if you want to keep the property you obviously must continue to stay current with the mortgage payments.
Answer Applies to: California
Replied: 10/28/2010
The Orantes Law Firm
The Orantes Law Firm | Giovanni Orantes
Short answer: Yes. The Bankruptcy discharge does not discharge secured debt that is, debt that has property as collateral (collateral is property, such as your house or your car, that a creditor can take away from you if you do not pay). So, if you retain the collateral, you must continue to honor the debt against it or the bank can foreclose against it.
Answer Applies to: California
Replied: 10/28/2010
Sussman & Associates
Sussman & Associates | Mitchell Sussman
Only if you want to keep your home....
Answer Applies to: California
Replied: 10/28/2010
Marilyn J. Hochman
Marilyn J. Hochman | Hochman and Peppler, LLC
If you are keeping your home, you must pay for it. You may have done a reaffirmation agreement.
Answer Applies to: Florida
Replied: 10/28/2010
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