How do I refinance my home to a lower interest rate after filing chapter 7? 17 Answers as of May 02, 2013

I was told I need to reaffirm my mortgage in order to refinance.

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Portland Bankruptcy Law Group
Portland Bankruptcy Law Group | Christopher J. Kane
That is a question for a mortgage broker. The law does not allow you to reaffirm a mortgage. It is not true that you have to reaffirm a mortgage in order to refinance it later.
Answer Applies to: Oregon
Replied: 5/2/2013
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
Do not reaffirm your mortgage. Your personal liability on the loan is discharged. They still have their security interest. You might be able to refinance the property after 3 years.
Answer Applies to: California
Replied: 5/2/2013
Law Office of D.L. Drain, P.A.
Law Office of D.L. Drain, P.A. | Diane L. Drain
This instruction is your lender's business decision, not the law. Talk to another lender about refinancing.
Answer Applies to: Arizona
Replied: 5/2/2013
Philip R. Boardman, Attorney at Law
Philip R. Boardman, Attorney at Law | Phil Boardman
I have seen reaffirmations as a tool to lower interest rates. This is pretty rare as far as I have observed. You will probably have to go the loan remodification route.
Answer Applies to: Virginia
Replied: 5/2/2013
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Banks lie about this. There is no requirement to reaffirm mortgage debt under the code.
Answer Applies to: California
Replied: 5/2/2013
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    This is not a bankruptcy question. It is a lender question to be answered by those who refinance.
    Answer Applies to: Michigan
    Replied: 5/2/2013
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    By who? Most judges will not let you reaffirm a mortgage.
    Answer Applies to: New York
    Replied: 5/2/2013
    Reger Rizzo & Darnall LLP | Kathleen DeLacy
    If discharged you can just try it, if not, you may need the trustee's permission and if you get any money out of the re-fi, it may have to go trustee to pay creditors.
    Answer Applies to: Delaware
    Replied: 5/2/2013
    Stittleburg Law Office
    Stittleburg Law Office | Bernd Stittleburg
    You only reaffirm your mortgage if you are intending on refinancing with the same company. If you seek a refinance with another lender, then reaffirmation agreements may not be necessary.
    Answer Applies to: Georgia
    Replied: 5/2/2013
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    The advice was correct, but it is very doubtful anyone will refinance your obligations, especially at a lower rate.
    Answer Applies to: Michigan
    Replied: 5/1/2013
    Rosenberg & Press
    Rosenberg & Press | Max L. Rosenberg
    This is being told to more and more people filing bankruptcies. You are not alone. As an attorney, and having spoken with the trustees for chapter 7, they agree that this is not the case and is not necessary. However its kind of like being bullied on a playground. The banks like to play by their own rules. They are not allowed to curtail your rights by forcing a reaffirmation. All reaffirmations are required to be voluntary. I do not endorse the reaffirming of a mortgage and from personal experience have been able to modify a mortgage without reaffirmation.
    Answer Applies to: Connecticut
    Replied: 5/1/2013
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    You were told wrong. Find another lender.
    Answer Applies to: Colorado
    Replied: 5/1/2013
    Idaho Bankruptcy Law | Paul Ross
    This will entirely depend on the lender. Some lenders require a reaffirmation agreement, some do not. To refinance usually does not require a reaffirmation agreement. The difficult part is rebuilding and establishing your credit sufficient to qualify for a refinance.
    Answer Applies to: Idaho
    Replied: 5/1/2013
    Moore Taylor Law Firm, P.A.
    Moore Taylor Law Firm, P.A. | Jane Downey
    Contact your mortgage company or apply for a loan elsewhere.
    Answer Applies to: South Carolina
    Replied: 5/1/2013
    J. Norman Stark, Attorney & Reg. Architect | J. NORMAN STARK, ATTORNEY
    Do not fall for the lender's clever words of art trickery.
    Answer Applies to: Ohio
    Replied: 5/1/2013
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    That is a total lie! A lender may need proof of how you have made your mortgage payments which will not appear on your consumer credit report in order to consider you for a loan but that issue can be easily resolved by ordering an account history from the mortgage lender.
    Answer Applies to: Nevada
    Replied: 5/1/2013
    Moffa & Bonacquisti, P.A.
    Moffa & Bonacquisti, P.A. | John A. Moffa
    Go to a different bank. There should not be any reason to reaffirm a debt in order to qualify for a refinance.
    Answer Applies to: Florida
    Replied: 5/1/2013
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