House after bk question

iVillage Member
Registered: 11-18-2003
House after bk question
4
Thu, 02-21-2013 - 6:33pm

My husband and I filed Ch. 7 and were discharged three years ago next month. Our house was included in the bk (we did not reaffirm) but we have been paying for it the last 3 years and are current with no late payments. Our mortgage was recently sold to a new company(just switched to them this month). I had to call customer service and the rep asked what our intention was with the house? My only answer was that we are making the payments. He stated, "I will put that your intention is to keep the house." First question, can he ask that? Second, does it really matter our intent since it was discharged in bk and we are no longer financially responsible for payments i.e it won't go against our credit if we don't pay since it isn't reported on our credit report anyway, just shows as included in Ch 7 bk? We have quite a bit of equity in our house so it would be sold before it would be foreclosed as we would want to get the equity in our pocket not just let it go.

Do we have additional responsibilities to this new lender that we did not have with our previous one? This loan was sold and we have not signed, confirmed, etc anything with this company. Any tips or advice in handling this situation aside from making our payments as usual?

Thanks so much!

Terri

 


Terri

iVillage Member
Registered: 11-28-1999
Fri, 02-22-2013 - 11:21am

I would say just keep making the payments & don't worry about it.

Community Leader
Registered: 07-26-1999
Fri, 02-22-2013 - 3:51pm
I would just make payments as usual as musiclover said. You obviously have the option to stop making payments and walk away and not have it adversely affect you in the future, but you don't have to exercise it. The new loan company bought the loan "as is" basically and both parties are under the same obligations as you were under it with the under lender and the bankruptcy. If you have other questions or the new company approaches you with a reaffirmation agreement or anything, I would contact and consult with your bankruptcy attorney on what you may or may not wish to do.
Photobucket
iVillage Member
Registered: 11-18-2003
Fri, 02-22-2013 - 5:16pm

Thanks

 


Terri

Community Leader
Registered: 03-17-2003
Mon, 02-25-2013 - 5:25pm
Hi Terri. I agree with the other replies. As long as you continue making the payments on the loan you will be fine. The fact the loan was sold makes no difference to you. All should be well. Carolyn