Am I still responsible even if our chapter 7 bankruptcy was discharged in 2010? 15 Answers as of April 18, 2014

We have 2 mortgages with BOA and have been making monthly payments since then. We signed a refinance for our first mortgage around that time; however, it was not called a re-affirmation. We assumed that as long as we were current on the mortgage payments, we were good. It's now 2014 and we were looking to re-finance for a better rate, when the mortgage broker advised me that after reviewing my credit report my mortgages do not show on it. He asked if I re-affirmed my mortgages and I said I don't know. I assumed that by paying the monthly payments that meant I did. Can I walk from this house that I'm underwater in? We pay over $4,000 a month to live in a bi-level.

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
The fact that you "refinanced" post bankruptcy concerns me. If you in fact did that I doubt you can just walk away. You need to have local counsel look at the paper work.
Answer Applies to: California
Replied: 4/18/2014
EDWARD P RUSSELL | EDWARD P RUSSELL
If you did sign a reaffirmation agreement that would have been filed with the court you can walk away from the house as those debts would have been discharged along with all of the others.
Answer Applies to: Minnesota
Replied: 4/17/2014
Tokarska Law Center
Tokarska Law Center | Kathryn U. Tokarska
I think you meant to say that you got a loan modification, not a refinancing. It's quite impossible to refinance a property if the amount owed exceeds the property value since the new lender wants some cushion of equity so that they are secured by the property for the amount they are lending out. If you are able to refinance your mortgage ask the current lender to provide you with a statement showing schedule of payments you made since the bankruptcy. Take this statement to any potential new lender so they have a record of payments. You can also append your credit report by sending this statement to the credit bureaus so that it can be retrieved by a lender when they run your credit report. If you did not reaffirm your loans in bankruptcy, your personal obligation to repay this debt was discharged and you will not be responsible for any deficiency after foreclosure.
Answer Applies to: California
Replied: 4/16/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Depends. If you refinanced after the BK filing, there may be issues. However, not all mortgage lenders go after the home owner if there is a deficiency on the first mortgage. Look at the dates you signed this refinance agreement. If you did it before the date of filing your BK, you are okay.
Answer Applies to: Colorado
Replied: 4/16/2014
A Fresh Start
A Fresh Start | Dorothy G Bunce
I would urge you to look at your bankruptcy file on the government website pacer to make sure you didn't have an approved reaffirmation. No reaffirmation means you can walk away, although the real question is always should you walk away or look for other options.
Answer Applies to: Nevada
Replied: 4/16/2014
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    If you did not reaffirm you do not owe the mortgage debt.
    Answer Applies to: Michigan
    Replied: 4/16/2014
    HARVEY S. MORRISON, ATTONEY AT LAW
    HARVEY S. MORRISON, ATTONEY AT LAW | HARVEY S. MORRISON
    Not enough information to accurately try to answer the question.
    Answer Applies to: Ohio
    Replied: 4/16/2014
    Law Office of Shirly L. Horn | Shirley L. Horn
    If you did not sign a reaffirmation agreement then you have no personal liability and can walk.
    Answer Applies to: Michigan
    Replied: 4/16/2014
    Patrick W. Currin, Attorney at Law | Patrick Currin
    Mortgages that are not reaffirmed don't appear on credit reports. You can walk, but the foreclosure is far worse for your credit than a BK and you can be liable for deficiencies in certain situations.
    Answer Applies to: California
    Replied: 4/16/2014
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    By all means, if you did not reaffirm your mortgages, you can walk away. Check with the attorney you worked with to make sure you didn't, or go to the bankruptcy court and check. You have to affirmatively sign documents to reaffirm a mortgage, car, etc. Merely paying the payments allows you to stay in the house but does not in itself reaffirm the mortgage.
    Answer Applies to: Michigan
    Replied: 4/16/2014
    Law Office of Pho Ethan Tran PLLC
    Law Office of Pho Ethan Tran PLLC | Pho Ethan Tran
    If the mortgages were in existence before you filed for bankruptcy and the debts were listed on your schedules, they were most likely discharged by the court unless you reaffirmed the debt during the proceedings. If so, you are not legally obligated to continue paying for the debts. You also did not reaffirm the mortgages by continuing to make payments after the discharge was granted.
    Answer Applies to: Texas
    Replied: 4/16/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    If you did not reaffirm the mortgage then yes, you can walk away from the liability for that debt. However, you should try to do a short sale rather than just walk away.
    Answer Applies to: New York
    Replied: 4/16/2014
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    If you did not file a Reaffirmation, then yes you can walk away.
    Answer Applies to: New Jersey
    Replied: 4/16/2014
    Havkin & Shrago | Stella Havkin
    Yes you can walk away because you did not reaffirm the mortgages.
    Answer Applies to: California
    Replied: 4/16/2014
    Law Offices of Eric W. I. Anglin
    Law Offices of Eric W. I. Anglin | Eric W. I. Anglin
    If you executed a reaffirmation agreement it should be on file with the bankruptcy court. Continuing to pay the mortgage is not reaffirmation of the debt. You can request a payment history from the lender. You are able to walk away from the house but you should consider loss mitigation with the lender such as a short sale or deed in lieu of foreclosure. A foreclosure after bankruptcy might make it difficult to purchase another home.
    Answer Applies to: Indiana
    Replied: 4/16/2014
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