CHAPTER 7 BANKRUPTCY: RESCINDING REAFFIRMATION AGREEMENT
You filed Chapter 7 bankruptcy but you want to keep your house, so you reaffirmed the mortgage payment. This means that your mortgage debt will not be discharged in the bankruptcy and you will be liable for the debt. But it also means that you will get to continue living in your house. Unfortunately, [...]
Strategic Foreclosures – Is It Better To Save Your Home Or Walk Away?
STRATEGIC FORECLOSURES – IS IT BETTER TO SAVE YOUR HOME OR WALK AWAY? By: Lauren Timmerman, Esq. The Wright Firm, L.L.P. June 30, 2010 One of the most talked about topics in the area of mortgage default is the issue of “strategic defaults”. A strategic default occurs when a homeowner is able to pay his/her [...]
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