Mortgage Reaffirmation
Posted: Thu Oct 13, 2016 5:44 pm
Reply-To: Craig J Beauchamp
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To: cdcbaa@yahoogroups.com
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I've had three past ch 7 clients who have tried to refi with their lender
and are being told they can't because they did not sign reaffirmation
agreement which is why the lender stopped posting in their credit report.
Even though the lender (BA and WF) had complete payment history, said no
history in credit report and no re affirmation. After the National
Mortgage Settlement was signed, there was a small blurb in there to prevent
lender from doing this. However, the HBOR support group created by the
AG's office has ended and the only thing borrowers can do is file a
complaint with the AG's office and pray. I told them to look for other
lenders.
I don't know of any judge in Santa Ana court that will sign a mortgage
reaffirmation. Another thing to consider is that such a reaffirmation may
change the nature of the loan from non-recourse to recourse - not positive
but there may be real negative consequences to the debtor if the default in
the future, which may be why judges won't sign. Not sure as I've never
actually asked a judge.
Good luck.
Craig
Craig J. Beauchamp, Esq.
Of Counsel
Law Offices of Victor W. Luke, APLC
(714) 835-5091
(714) 835-5763
Craig J. Beauchamp, Esq.
Attorney at Law
PO Box 25857
Santa Ana, CA 92799
(949) 689-9709
(714) 835-5763 fax
Legallycraig@gmail.com
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On Thu, Oct 13, 2016 at 5:30 PM, 'Steven B. Lever' sblever@leverlaw.com
[cdcbaa] wrote:
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> I have a client who is insisting on filing a mortgage reaffirmation.
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> He even wants to do it himself if I will not.
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> No judge in the Central District signs mortgage reaffirmations, do they?
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> Steve
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> Law Offices of Steven B. Lever
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> Steven B. Lever
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> ( Tel. (562) 436-5456 ext. 1
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> ( Fax (562) 485-6886
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> * sblever@leverlaw.com
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> www.leverlaw.com
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> ******************************************************
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I've had three past ch 7 clients who have tried to refi with their lender and are being told they can't because they did not sign reaffirmation agreement which is why the lender stopped posting in their credit report. Even though the lender (BA and WF) had complete payment history, said no history in credit report and no re affirmation. After the National Mortgage Settlement was signed, there was a small blurb in there to prevent lender from doing this. However, the HBOR support group created by the AG's office has ended and the only thing borrowers can do is file a complaint with the AG's office and pray. I told them to look for other lenders.I don't know of any judge in Santa Ana court that will sign a mortgage reaffirmation. Another thing to consider is that such a reaffirmation may change the nature of the loan from non-recourse to recourse - not positive but there may be real negative consequences to the debtor if the default in the future, wh
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