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Reaffirming home mortgage in chapter 7?
I don't see how a QWR does anything to keep the debtor on top of their
payments as they come due. Some lenders stop sending bills post-discharge
for fear of a claim of violation of the discharge injunction, but many do
not.
If your lender stops sending bills, simply go to your computer and print up
a few dummy ones for your client to use as a payment book.
In the alternative, have your client schedule in his or her online banking
a recurring monthly payment to CitiMortgage. This isn't Citi pulling the
money monthly; rather, your client is sending the money monthly. Same
effect, isn't it?
The post-discharge payments will not be reflected on the client's credit
report but he or she can use proof of payment stream to show a new
potential lender in the future.
Jay S. Fleischman, Esq.
Shaev & Fleischman, LLP
I help people with overdue bills, credit reporting problems, and debt
collection harassment. Questions? Just hit REPLY or check out my website
here: http://www.ConsumerHelpCentral.com
NACBA Co-Chair, New York
Founder and Past President, Bankruptcy Law Network
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I don't see how a QWR does anything to keep the debtor on top of their payments as they come due. Some lenders stop sending bills post-discharge for fear of a claim of violation of the discharge injunction, but many do not.
If your lender stops sending bills, simply go to your computer and print up a few dummy ones for your client to use as a payment book.In the alternative, have your client schedule in his or her online banking a recurring monthly payment to CitiMortgage. This isn't Citi pulling the money monthly; rather, your client is sending the money monthly. Same effect, isn't it?
The post-discharge payments will not be reflected on the client's credit report but he or she can use proof of payment stream to show a new potential lender in the future.-------------Jay S. Fleischman, Esq.
Shaev & Fleischman, LLPI help people with overdue bills, credit reporting problems, and debt collection harassment. Questions? Just hit REPLY or check out my website here: http://www.ConsumerHelpCentral.com
NACBA Co-Chair, New YorkFounder and Past President, Bankruptcy Law NetworkNEW YORK OFFICE350 Fifth Ave Ste 7210New York NY 10118T: 646.827.0758COMING SOON TO THE LOS ANGELES AREA
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The client should not reaffirm. They have been personally forgiven of the debt. Send a QWR so they can stay on top of the payments.
Law Office of Catherine Christiansen
________________________________
To: cdcbaa@yahoogroups.com
Sent: Monday, July 23, 2012 3:37 PM
Subject: [cdcbaa] Reaffirming home mortgage in chapter 7?
I have a closed CH7 case where my client had an upside-down house mortgage with Citibank. The client says that Citi is not allowing automatic/internet payment option resumed because he did not reaffirm the loan. I have rarely heard of "reaffirming" home mortgages, under water or not, and didn't think one is required to keep the home, so long as the monthly payments are made on time. Has things changed recently? Or is it just that particular client?
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I have this same situation, and the client is begging me to re-open to case
to obtain and file a reaffirmation agreement. Also interested to know any
wisdom here.
On Mon, Jul 23, 2012 at 3:37 PM, Jaenam Coe wrote:
> **
>
>
> I have a closed CH7 case where my client had an upside-down house
> mortgage with Citibank. The client says that Citi is not allowing
> automatic/internet payment option resumed because he did not reaffirm the
> loan. I have rarely heard of "reaffirming" home mortgages, under water or
> not, and didn't think one is required to keep the home, so long as the
> monthly payments are made on time. Has things changed recently? Or is it
> just that particular client?
>
>
>
Jason Boyer
Boyer Tadros Law, PC
5150 E. Pacific Coast Hwy, Suite 200
Long Beach, CA 90804
T: 562-346-3276
F: 562-684-0775
jboyer@boyertadroslaw.com
www.boyertadroslaw.com
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I have this same situation, and the client is begging me to re-open to case to obtain and file a reaffirmation agreement. Also interested to know any wisdom here.On Mon, Jul 23, 2012 at 3:37 PM, Jaenam Coe <jaenamcoe@yahoo.com> wrote:
I have a closed CH7 case where my client had an upside-down house mortgage with Citibank. The client says that Citi is not allowing automatic/internet payment option resumed because he did not reaffirm the loan. I have rarely heard of "reaffirming" home mortgages, under water or not, and didn't think one is required to keep the home, so long as the monthly payments are made on time. Has things changed recently? Or is it just that particular client?
-- Jason BoyerBoyer Tadros Law, PC5150 E. Pacific Coast Hwy, Suite 200Long Beach, CA 90804T: 562-346-3276F: 562-684-0775jboyer@boyertadroslaw.com
www.boyertadroslaw.com
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I have a closed CH7 case where my client had an upside-down house mortgage with Citibank. The client says that Citi is not allowing automatic/internet payment option resumed because he did not reaffirm the loan. I have rarely heard of "reaffirming" home mortgages, under water or not, and didn't think one is required to keep the home, so long as the monthly payments are made on time. Has things changed recently? Or is it just that particular client?
I have a closed CH7 case where my client had an upside-down house mortgage with Citibank. The client says that Citi is not allowing automatic/internet payment option resumed because he did not reaffirm the loan. I have rarely heard of "reaffirming" home mortgages, under water or not, and didn't think one is required to keep the home, so long as the monthly payments are made on time. Has things changed recently? Or is it just that particular client?
The post was migrated from Yahoo.