What do I do if I have been told that I have to reaffirm my mortgage in order to refinance? 16 Answers as of April 16, 2015

My chapter 7 bankruptcy was discharged in 2010. I never missed payments and have not been late or missed payments before or after bankruptcy.

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GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
That's not true. Find another mortgage broker.
Answer Applies to: Colorado
Replied: 4/16/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Get a different lender. This can not be fixed and the bankruptcy code does not require you to reaffirm mortgage debt.
Answer Applies to: California
Replied: 4/10/2015
Tokarska Law Center
Tokarska Law Center | Kathryn U. Tokarska
That information is incorrect. If you are attempting to refinance a loan using a different lender, obtain a copy of a statement from your current lender. You will send them a written request to produce a statement showing payments since the bankruptcy filing. Once they provide this document, include it with your application for a new loan. The new lender wants to see that payments have been made and the current status of the loan. Understand that your loan was discharged in bankruptcy, your current payments are voluntary though necessary to avoid foreclosure. When you refinance, you pay off the old loan and get a new one. The new loan does not fall under the old bankruptcy protection because it is a new debt, incurred post bankruptcy.
Answer Applies to: California
Replied: 4/10/2015
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
You can go to another lender.
Answer Applies to: California
Replied: 4/10/2015
Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
You don't have to do anything. It is far too late to reaffirm a debt, but there is no reason to in the first place. Why would you allow a clerk in a mortgage company's office pretend to give you legal advice? If your current lender will not consider a refinance or modification, then find another lender who will.
Answer Applies to: Colorado
Replied: 4/9/2015
    EDWARD P RUSSELL | EDWARD P RUSSELL
    It is too late to reaffirm the mortgage debt. You will have to find another lender so that you can obtain a mortgage.
    Answer Applies to: Minnesota
    Replied: 4/9/2015
    Idaho Bankruptcy Law | Paul Ross
    Reaffirmation agreements cannot be entered after discharge.
    Answer Applies to: Idaho
    Replied: 4/9/2015
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    You must file a motion to reopen your case and set aside the discharge to allow the court to approve the reaffirmation agreement. The reaffirmation agreement must be filed and noticed for hearing and an order approving the reaffirmation agreement entered. Then the clerk can reissue your discharge order and close your case. Unfortunately, this is a $1,500 endeavor.
    Answer Applies to: Nevada
    Replied: 4/9/2015
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    You do not need to reaffirm a mortgage to refinance, but your lender is saying that they will not refinance. So see another lender. This myth is a lie perpetrated by ruthless mortgage companies to penalize their customers for having filed bankruptcy.
    Answer Applies to: Nevada
    Replied: 4/9/2015
    Law Offices of Daniel J Winter
    Law Offices of Daniel J Winter | Daniel J Winter
    go to a different lender. You are not required to reaffirm, nor is it a good idea to reaffirm on your mortgage in a bankruptcy. Some lenders have internal "rules" that require borrowers to reaffirm. You can't change your 2010 case and reaffirm anyway. If the new lender is giving you problems, have your on-time payment history to show to them.
    Answer Applies to: Illinois
    Replied: 4/9/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    Something is odd here. Reaffirmations can only be filed before your discharge is entered. So it is too late to do a formal reaffirmation. Perhaps your refinance lender wants you to enter into some more informal agreement. If you possibly can, you should retain an experienced lawyer who knows a lot about bankruptcy to represent you in this matter. Good Luck.
    Answer Applies to: Wisconsin
    Replied: 4/9/2015
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    You can file a motion to reopen for limited purpose.
    Answer Applies to: Florida
    Replied: 4/9/2015
    Ronald K. Nims LLC | Ronald K. Nims
    It's true you have to reaffirm a mortgage in order to refinance with the same lender. It's also true that you can't reaffirm after your bankruptcy case closed. A lender isn't allowed to make any effort to collect the debt including changing the terms of the contract, unless you reaffirmed during your bankruptcy. You can refinance with a different lender, just not the same one.
    Answer Applies to: Ohio
    Replied: 4/9/2015
    John W. Lee, PC
    John W. Lee, PC | Kim A. Lewis
    There is nothing you can do at this point. It is too late to reaffirm the debt.
    Answer Applies to: Virginia
    Replied: 4/9/2015
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    Most judges in NY districts would not have allowed you to reaffirm your mortgage unless you were getting a substantial benefit, such as interest rate reduction.
    Answer Applies to: New York
    Replied: 4/9/2015
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    The issue is who has rights to the property as, if you did not re-affirm then the rights went to the secured party. See an attorney.
    Answer Applies to: Michigan
    Replied: 4/9/2015
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