Mortgage Reaffirmations
Posted: Thu Apr 11, 2013 10:28 am
I have received several recent phone calls from former clients that want to know why their mortgage wasn't reaffirmed. Cases are typically discharged 1-3 years ago. These are normally frustrating calls. They want to now reaffirm usually because they are trying to do a HARP refinance or some other refinance or homeowner assistance program (e.g. non-HAMP loan mod) and mortgage company or someone else is telling them they need to do a reaffirmation to be considered. I almost never do mortgage reaffirmations for a number of reasons. I assume others have been getting these calls and I was wondering how you normally deal with them.
Reaffirmation after discharge seems prohibited by the code, but I have seen on occasion Courts grant motions to reopen case and approve a reaffirmation agreement even after discharge. I would assume this is very much on a judge by judge basis and I can see many judges denying such motions as prohibited by the code and/or against the general principles of a fresh start in bankruptcy. Do any of you do these and how successful have you been? Any suggestions would be much appreciated.
Thanks,
Frank
Frank X. Ruggier
Price Law Group, APC
15760 Ventura Blvd., Suite 1100
Encino, CA 91436
Direct: (818) 205-2406
Fax: (818) 907-2106
www.pricelawgroup.com
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