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  • still paying on 2nd Mortgage after it was discharged?

    Hi all
    My BK Chapter 7 was discharged in Nov, 05. The 2nd mortgage was not to be
    included in the discharge, but is was. After filing, I stopped receiving the
    monthly payment bill in the mail. I paid anyway. And have since then. I just
    checked my credit report and discovered they WERE included to be discharged.
    Since filing there has been no communication from them in any way. I would
    have expected to receive a reaffirmation notice from them but nothing. If I
    stop making payments is there any consequence? I'm going to call my attorney
    tomorrow but thought I would throw it out here...maybe help others.
    Tom



  • #2
    still paying on 2nd Mortgage after it was discharged?

    "Cat in the Hat" <[email protected]> wrote in message
    news:[email protected]
    Hi all My BK Chapter 7 was discharged in Nov, 05. The 2nd mortgage was not to
    be
    included in the discharge, but is was. After filing, I stopped receiving
    the
    monthly payment bill in the mail. I paid anyway. And have since then. I
    just
    checked my credit report and discovered they WERE included to be
    discharged.

    That just means that your *personal* liability for the mortgage was
    discharged, not that the mortgage against the property was discharged or
    erased. The mortgage is still there. It's good that you continued to make
    the payments if you want to keep the property.
    Since filing there has been no communication from them in any way. I would have expected to receive a reaffirmation notice from them but nothing.
    There is no need for them to offer a reaffirmation agreement, but if one is
    offered, you don't want it. As long as you continue to make the payments on
    time, the mortgage company will not foreclosure.
    If I stop making payments is there any consequence?
    If you stop, the mortgage company will foreclosure and take the property.
    I'm going to call my attorney tomorrow but thought I would throw it out here...maybe help others.
    Good. Let's us know what your attorney says, just to be sure I am correct
    about all of this.


    Comment


    • #3
      still paying on 2nd Mortgage after it was discharged?

      If you stop making your payments, the second mortgage company can foreclose.

      --
      Brett Weiss
      [email protected]
      www.brettweiss.com

      Maryland, DC and Federal bars
      Member, National Association of Consumer Bankruptcy Attorneys

      --> Read our Bankruptcy FAQ at www.brettweiss.com/faq/br_faq.htm

      Justice consists not in being neutral between right and wrong, but in
      finding out the right and upholding it, wherever found, against the
      wrong. —Theodore Roosevelt

      Required disclosure and notice: We are a federally-designated debt relief
      agent, proudly helping people file for relief under the Bankruptcy Code
      since 1983. Pursuant to 11 USC §§ 342 and 527, we are required to provide
      certain notices, which may be found at www.brettweiss.com/faq/br_faq.htm.

      ************************************************** ***************
      The Small Print: This response is for discussion purposes only.
      It isn't meant to be legal advice and you shouldn't treat it as
      such. If you want legal advice, speak with a local lawyer
      familiar with your state's laws who can review *all* of the
      facts and the law applicable to your situation.
      ************************************************** ***************
      "Cat in the Hat" <[email protected]> wrote in message
      news:[email protected]
      Hi all My BK Chapter 7 was discharged in Nov, 05. The 2nd mortgage was not to be included in the discharge, but is was. After filing, I stopped receiving the monthly payment bill in the mail. I paid anyway. And have since then. I just checked my credit report and discovered they WERE included to be discharged. Since filing there has been no communication from them in any way. I would have expected to receive a reaffirmation notice from them but nothing. If I stop making payments is there any consequence? I'm going to call my attorney tomorrow but thought I would throw it out here...maybe help others. Tom

      Comment


      • #4
        still paying on 2nd Mortgage after it was discharged?

        Thanks, Brett. That's what my attorney told me today. Although this mortgage
        was listed to be retained, somehow it got discharged. I'm calling the
        company tomorrow to try and straighten it out. I have not missed any
        payments and will not.
        Tom
        "Brett Weiss" <[email protected]> wrote in message
        news:[email protected]
        If you stop making your payments, the second mortgage company can foreclose. -- Brett Weiss [email protected] www.brettweiss.com Maryland, DC and Federal bars Member, National Association of Consumer Bankruptcy Attorneys --> Read our Bankruptcy FAQ at www.brettweiss.com/faq/br_faq.htm Justice consists not in being neutral between right and wrong, but in finding out the right and upholding it, wherever found, against the wrong. -Theodore Roosevelt Required disclosure and notice: We are a federally-designated debt relief agent, proudly helping people file for relief under the Bankruptcy Code since 1983. Pursuant to 11 USC §§ 342 and 527, we are required to provide certain notices, which may be found at www.brettweiss.com/faq/br_faq.htm. ************************************************** *************** The Small Print: This response is for discussion purposes only. It isn't meant to be legal advice and you shouldn't treat it as such. If you want legal advice, speak with a local lawyer familiar with your state's laws who can review *all* of the facts and the law applicable to your situation. ************************************************** *************** "Cat in the Hat" <[email protected]> wrote in message news:[email protected]
        Hi all My BK Chapter 7 was discharged in Nov, 05. The 2nd mortgage was not to be included in the discharge, but is was. After filing, I stopped receiving the monthly payment bill in the mail. I paid anyway. And have since then. I just checked my credit report and discovered they WERE included to be discharged. Since filing there has been no communication from them in any way. I would have expected to receive a reaffirmation notice from them but nothing. If I stop making payments is there any consequence? I'm going to call my attorney tomorrow but thought I would throw it out here...maybe help others. Tom

        Comment

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