Central District Consumer Bankruptcy Attorney's Association

There is a technical argument that the debtor cannot modify a rejected contract. The chapter 7 rejects the mortgage contract. After that the debtor does not have contractual privity with the mortgage company and now some mortgage companies are saying if there is no contract, it cannot be modified.
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Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Oct 9, 2013, at 1:14 PM, Stella Havkin wrote:
>
> Until the property is foreclosed, the debtor remains the equitable owner. The debtor is not liable on the mortgage.
>
> Sent from my Stella Havkin's IPhone
>
>> On Sep 30, 2013, at 4:28 PM, wrote:
>>
>>
>> I have a client that filed Chapter 7 last year and did not reaffirm the mortgage which was owned and serviced by BofA. The client applied for a loan modification with BofA and is now being told that she is no longer the owner of the property so she can't get approved for the modification because she did not reaffirm the mortgage. I have read the threads and haven't seen this issue come up. Any guidance would be greatly appreciated.
>>
>>
>>
>> Regards,
>>
>> Tuan Le
>
>

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There has been quite a lot of discussion on this. Search "mortgage reaffirmation."

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Until the property is foreclosed, the debtor remains the equitable owner. The debtor is not liable on the mortgage.
Sent from my Stella Havkin's IPhone
> On Sep 30, 2013, at 4:28 PM, wrote:
>
> I have a client that filed Chapter 7 last year and did not reaffirm the mortgage which was owned and serviced by BofA. The client applied for a loan modification with BofA and is now being told that she is no longer the owner of the property so she can't get approved for the modification because she did not reaffirm the mortgage. I have read the threads and haven't seen this issue come up. Any guidance would be greatly appreciated.
>
>
>
> Regards,
>
> Tuan Le
>
>
Until the property is foreclosed, the debtor remains the equitable owner. The debtor is not liable on the mortgage. Sent from my Stella Havkin's IPhoneOn Sep 30, 2013, at 4:28 PM, <tuanl@stevelopezlaw.com> wrote:

I have a client that filed Chapter 7 last year and did not
reaffirm the mortgage which was owned and serviced by BofA. The client
applied for a loan modification with BofA and is now being told that she is no
longer the owner of the property so she can't get approved for the modification because she did not reaffirm the
mortgage. I have read the threads and haven't seen this issue come up. Any guidance would be greatly appreciated.Regards,Tuan Le

The post was migrated from Yahoo.

To: cdcbaa@yahoogroups.com
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The post was migrated from Yahoo.