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  1. #1
    Join Date
    Oct 2019
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    2

    Default Second Mortgage Included in Chp 7 Bankruptcy

    My question involves bankruptcy in the state of: GA

    In 2011, I filed Chapter 7 BK in the state of GA. At the time, I had a 1st & 2nd mortgage with the same lender. I chose to reaffirm the first mortgage but the second was included in the BK. Since that time, I have maintained the payments on the 1st with no delinquencies. The lender has not and could not, under the BK laws, tried to collect on the second mortgage. The term of the 2nd was for 15 years and would have reached maturity date in 2018. I was advised that the lien would "expire" after 7 years beyond the maturity date. If I don't intend to move before 2025, will this 2nd mortgage eventually expire? Can it be re-newed by the lien holder prior to expiration? Since the lender was restricted in collecting this debt under the BK laws, could they ever demand payment or a payoff to release the lien? Please advise. Thanks

  2. #2
    Join Date
    Oct 2006
    Posts
    15,663

    Default Re: Second Mortgage Included in Chp 7 Bankruptcy

    Duplicate post

  3. #3
    Join Date
    Jul 2018
    Posts
    1,729

    Default Re: Second Mortgage Included in Chp 7 Bankruptcy

    What's the deal with all the multiple postings? Twice here and thrice at another site. Nothing wrong with posting at multiple sites, but posting multiple times at the same site is generally a violation of posting rules (don't know if that's the case with this site, but it's awfully annoying). One of the moderators at the other site consolidated the threads, but this appears to be an unmoderated site.

  4. #4
    Join Date
    Oct 2006
    Posts
    15,663

    Default Re: Second Mortgage Included in Chp 7 Bankruptcy

    Quote Quoting pg1067
    View Post
    What's the deal with all the multiple postings? Twice here and thrice at another site. Nothing wrong with posting at multiple sites, but posting multiple times at the same site is generally a violation of posting rules (don't know if that's the case with this site, but it's awfully annoying). One of the moderators at the other site consolidated the threads, but this appears to be an unmoderated site.
    Its not such an unusual thing. Many people posting on sites that have a lot of individual categories assume that different people answer questions in different categories. Therefore they assume that they will get more perspectives posting in multiple categories.

    They don't realize that the regulars on a forum will click on the new posts and see all new posts in all categories at the same time...because they have no reason to know that.

    Which, sadly, we tend to chase away newbies by giving them grief about that sort of thing.

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