Can they take my house if I am current? 12 Answers as of October 16, 2014

I am going crazy with my mortgage. They want a reaffirmation agreement. I am current on mortgage and plan to continue that way. I used a paralegal as I couldn’t afford an attorney and everything is fine except for the mortgage company. Thank you in advance. I am a new single lady and very scared about this.

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EDWARD P RUSSELL | EDWARD P RUSSELL
Hopefully your paralegal can help you. As long as your payments are current the mortgage company cannot foreclose.
Answer Applies to: Minnesota
Replied: 10/16/2014
Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
They won't foreclose, even if you don't do a reaffirmation agreement, if you keep current on payments.
Answer Applies to: Texas
Replied: 10/15/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
You do not need to sign a Reaffirmation Agreement for real estate. Do not sign a Reaffirmation Agreement! If you are current with your payments, there is nothing they can do.
Answer Applies to: Colorado
Replied: 10/14/2014
Freeman Law Group, LLC
Freeman Law Group, LLC | Derek Freeman
No, they can't just take your house. And they have no reason to, so long as you're current on your payments. If you do sign a reaffirmation agreement, it could have negative consequences. If you default on your loan and your mortgage lender forecloses, they can get a judgment for the deficiency. That would be bad. On the other hand, if you do not sign a reaffirmation agreement and default on the loan, your lender cannot get a deficiency judgment if it forecloses. Additionally, if you're not represented, any reaffirmation agreement must be approved by the bankruptcy court. So it's up to you, but don't let your mortgage lender bully you around.
Answer Applies to: Colorado
Replied: 10/14/2014
D.J. Rausa, Attorney at Law | D.J. Rausa
Continue to make your normal mortgage payments and you will be fine.
Answer Applies to: California
Replied: 10/13/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    You do not have to sign the reaff on the house. When you don't the consequence is that your payments will not be reported to credit reporting agencies and this lender will not refinance the loan. They can't take the house. If they have claimed that, see a lawyer who handles fair debt collection practices act cases.
    Answer Applies to: California
    Replied: 10/13/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    The bank is insisting on a reaffirmation because they know you & your paralegal are ignorant of the law. Had you been represented, a competent bankruptcy attorney could have kept you from worrying about this problem & even helped you to obtain a lower monthly mortgage payment. A reaffirmation of a real estate loan is almost always a bad move because you could be liable for a lot of money if there is a subsequent foreclosure and the property sells at auction for less than the mortgage balance.
    Answer Applies to: Nevada
    Replied: 10/13/2014
    Ronald K. Nims LLC | Ronald K. Nims
    Read the definition of default in your mortgage. It's illegal to have bankruptcy as a definition of default but you want to check that you didn't do anything else which is a default. If you didn't default, then they can't foreclose.
    Answer Applies to: Ohio
    Replied: 10/13/2014
    Scott Goldstein | Scott Goldstein
    If you are current, there is no reason whatsoever to file a reaffirmation agreement. An attorney WHO YOU HAVE retained can advise more, but using a paralegal was a huge mistake.
    Answer Applies to: New Jersey
    Replied: 10/13/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    No, they will not take house if you don't reaffirm.
    Answer Applies to: New York
    Replied: 10/13/2014
    Law Office of Louis S. Haskell
    Law Office of Louis S. Haskell | Louis Haskell
    Here in MA, they cannot take your house if you are current. This is why the Worcester Judges generally will not approve mortgage reaffirmations.
    Answer Applies to: Massachusetts
    Replied: 10/13/2014
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