Results 1 to 3 of 3
  1. #1
    Join Date
    Jan 2008
    Posts
    1

    Default Dealing With A Second Home Mortgage After Bankruptcy Discharge

    similiar to 'Mindi" I have had a banruptcy (discharged effective Jan 7th 2007), I don't think the mortgage was discussed because I was up to date! I did not reaffirm with the 2nd mortgage..(The first mortgage called recently, maybe a workout..interest only is in the offing. The home was appraised above what the market would really bear, hence the problem) the home would sell and be able to cover the first, but at the market values of today would not be able to cover the 2nd..........can I sell at a reasonable price that would cover the 1st and maybe a good percentage of the 2nd if not all? I don't expect to make a profit or even a dime.... I just need to start over, as with my bankruptcy. I'm retired, the mortgage and the interest only loan/2nd are a cumbersome debt! Since I did not reaffirm with the 2nd (interest only loan) and its so noted....would I be responisible for any of their debt not paid by the sell?

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Dealing With A Second Home Mortgage After Bankruptcy Discharge

    Have you asked your attorney?

    Was your second mortgage discharged or was it not discussed at all? That's not quite clear to me.

  3. #3

    Default Re: Dealing With A Second Home Mortgage After Bankruptcy Discharge

    We had a 1st and a 2nd (HELOC) and couldn't reaffirm the 1st without the second. So, we surrendered the home.

    1. Sponsored Links
       

Similar Threads

  1. Chapter 7: Dealing with Mortgage Companies on Short Sell After Discharged
    By petimm in forum Bankruptcy Law
    Replies: 1
    Last Post: 07-26-2011, 05:09 AM
  2. Chapter 7: Three Years After Bankruptcy, Mortgage Discharged, but Still Living in Home
    By motherofpearls in forum Bankruptcy Law
    Replies: 1
    Last Post: 06-10-2011, 09:54 AM
  3. Chapter 7: Filing for Bankruptcy With Home Mortgage About to Go Into Default
    By DLynn in forum Bankruptcy Law
    Replies: 1
    Last Post: 01-16-2011, 08:33 AM
  4. Chapter 7: Will Bankruptcy Discharge a Federally Backed Mortgage
    By dead_onion in forum Bankruptcy Law
    Replies: 2
    Last Post: 02-25-2010, 04:16 PM
  5. Chapter 7: Bankruptcy and Second Mortgage on Home
    By mzprfkt in forum Bankruptcy Law
    Replies: 2
    Last Post: 01-14-2010, 11:10 AM
 
 
Sponsored Links

Legal Help, Information and Resources