I am in process of filing chapter 7 and want to know if I reaffirm to pay for my home mortgage can the court order me not to if they think the mortgage payment is too high?
I am in process of filing chapter 7 and want to know if I reaffirm to pay for my home mortgage can the court order me not to if they think the mortgage payment is too high?
Your home is a secured debt. If you wish to stay in it, it will remain subject to the mortgage. If you owe more than the property is worth you should discuss with your bankruptcy lawyer the possibility of discharging the difference between what the property is worth and what you owe.
From my resent research it appears that the BK court does have to approve it and can disapprove the reaffirmation if it feels the burden is to much for the debtor to handle.