Central District Consumer Bankruptcy Attorney's Association

No reason to sign, unless loan modification part of package.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 15, 2010, at 6:32 PM, "David A. Tilem" wrote:
I don't sign them. What is lender going to do? Are clients trying for mortgage modification?
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal Specialization.
on
ohn
Sent: Friday, January 15, 2010 4:42 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Reaffirmation agreement on a house
My debtors have a $400,000 mortgage on a house that is under water. The mortgage is current. Citibank wants them to reaffirm. I haven't gotten a reaffirmation agreement on houses yet; is there any reason not to sign, if the debtors intend to stay and continue to keep their mortgage current?
- John Faucher
No reason to sign, unless loan modification part of package.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Jan 15, 2010, at 6:32 PM, "David A. Tilem" <DavidTilem@TilemLaw.com> wrote:

I don't sign them.
What is lender going to do? Are clients trying for mortgage
modification?


David A.
Tilem
The post was migrated from Yahoo.

No reason to sign, unless loan modification part of package.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 15, 2010, at 6:32 PM, "David A. Tilem" wrote:
I don't sign them. What is lender going to do? Are clients trying for mortgage modification?
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal Specialization.
on
ohn
Sent: Friday, January 15, 2010 4:42 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Reaffirmation agreement on a house
My debtors have a $400,000 mortgage on a house that is under water. The mortgage is current. Citibank wants them to reaffirm. I haven't gotten a reaffirmation agreement on houses yet; is there any reason not to sign, if the debtors intend to stay and continue to keep their mortgage current?
- John Faucher
No reason to sign, unless loan modification part of package.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Jan 15, 2010, at 6:32 PM, "David A. Tilem" <DavidTilem@TilemLaw.com> wrote:

I don't sign them.
What is lender going to do? Are clients trying for mortgage
modification?


David A.
Tilem
The post was migrated from Yahoo.

One lender (CIT Bank) stated it won't consider loan modifications
unless the loan is reaffirmed.
One other commentator said that lenders will not report the Debtor's
timely payments on the home loan to the credit bureaus without
reaffirmation.
I researched this in California, and the reaffirmation doesn't appear
to give the lender any rights it didn't already have---if it's a FIRST
TD, or a PURCHASE MONEY TD. I would never advise a Debtor to
reaffirm a hard money TD, such as a HELOC.
Gerald McNally
McNally & Associates, P.C.
517 East Wilson Ave., Ste 104
Glendale, CA 91206
818.507.5100

The post was migrated from Yahoo.

BAPCPA did not change the law prohibiting the enforcement of ipso facto
clauses in real property loans. The changes were for personal property.
See 521(a)(6) and 362(h). Thus it is still keep and pay for real property.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com

The post was migrated from Yahoo.

No need to reaffirm. Lender can't foreclose unless they default. Ipso
facto clauses are inapplicable to RP.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com

The post was migrated from Yahoo.

I don't sign them. What is lender going to do? Are clients trying for
mortgage modification?
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
John
Sent: Friday, January 15, 2010 4:42 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Reaffirmation agreement on a house
My debtors have a $400,000 mortgage on a house that is under water. The
mortgage is current. Citibank wants them to reaffirm. I haven't gotten a
reaffirmation agreement on houses yet; is there any reason not to sign, if
the debtors intend to stay and continue to keep their mortgage current?
- John Faucher
Message
I don't sign them.
What is lender going to do? Are clients trying for mortgage
modification?


David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.

My debtors have a $400,000 mortgage on a house that is under water. The mortgage is current. Citibank wants them to reaffirm. I haven't gotten a reaffirmation agreement on houses yet; is there any reason not to sign, if the debtors intend to stay and continue to keep their mortgage current?
- John Faucher

The post was migrated from Yahoo.