Does reaffirmation go away after 10 years of bankruptcy discharge? 8 Answers as of October 15, 2015

I filed 10 years ago chapter 7 and was discharged March 2006 .I wanted to refinance under Harp however found out I was not reaffirmed after bankruptcy. Will the need to reaffirm drop off in Mach 2016 when the bankruptcy does? Or will the need to reaffirm remain to the end of the loan?

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Ronald K. Nims LLC | Ronald K. Nims
No, reaffirmations are forever - or at least with 40 year mortgages like you'll get from HARP they seem like forever. You can't reaffirm a debt after the bankruptcy case is closed (with some limited exceptions that don't apply here). And the lender isn't allowed to make any effort to collect the debt, a HARP agreement that extends the length of the loan would definitely fall within the actions prohibited. If you need to refinance to get a lower interest rate, you can refinance at another lender. The HARP program is a terrible deal for the homeowner and a great deal for the banks, it means you extend the loan for many years past the current length of the mortgage and will pay a sky high interest rate the whole time. You're much better off to continue to pay the current payment then refinance when your credit improves.
Answer Applies to: Ohio
Replied: 10/15/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You cannot reaffirm now. It is too late for that. Apply with a different lender. (and this is a BS claim by the lender because the code does NOT require reaffirmation of real property debt).
Answer Applies to: California
Replied: 10/14/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
The lack of a reaffirmation is only an excuse not to refinance. You did not need to reaffirm in order to refinance. Talk to another lender, such as a local credit union because your present lender is grasping for a way to say NO without telling you the truth.
Answer Applies to: Nevada
Replied: 10/14/2015
Goldsmith & Guymon
Goldsmith & Guymon | Marjorie Guymon
Reaffirmation has nothing to do with when your bk drops off your credit report.
Answer Applies to: Nevada
Replied: 10/14/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
You can only reaffirm before you get the discharge. But the bankruptcy should be deleted from credit records after ten years. Good Luck.
Answer Applies to: Wisconsin
Replied: 10/14/2015
    Scott Goldstein | Scott Goldstein
    You cannot refer this loan. The bankruptcy is over, its not something you can do it all.
    Answer Applies to: New Jersey
    Replied: 10/14/2015
    Danville Law Group | Scott Jordan
    There is no need to reaffirm. Your bank is simply punishing you for not doing what they want you to do. If you want to refinance, find a different lender.
    Answer Applies to: California
    Replied: 10/14/2015
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    No, your Bankruptcy eliminated your legal obligation to the mortgage. You may need to file a motion to reopen to see if you can reaffirm now.
    Answer Applies to: Florida
    Replied: 10/14/2015
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