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Reaffirmations Binding on Lender
Group,
PCs executed a timely reaffirmation agreement signed by their attorney to
reaffirm a mortgage, which was executed by the lender and timely filed with
the court.
It was not a joint filing; his spouse was not eligible due to a prior
bankruptcy within the past 8 years.
The reaff was prepared by the lender ("O"), and it substantially modified
(to the benefit of the debtor) the terms of the loan.
The lender now disavows the reaff and insists on the terms originally agreed
to.
After reviewing 524(c ) etc, I now believe the reaff should be binding on
the lender, as to both client and spouse, and now I believe I should be
filing my motion for an OSC (using the format provided by Nicholas
Gebelt---thank you!) re: contempt against the lender for violating the terms
of the reaff and the discharge injunction.
This is a case of first impression for me. Does anyone have experience with
this issue.
Gerry
Gerald McNally
McNally & Associates, P.C.
517 East Wilson Ave., Ste 104
Glendale, CA 91206
818.507.5100
Fax: 818.507.5001
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