QUESTION
Do I have to re affirm my mortgage to refinance my home either with the current mortgager or another company?
Asked on May 13th, 2013 on Bankruptcy - Florida
9 ANSWERS
No, you do not have to reaffirm a mortgage.
Answered on May 14th, 2013 at 1:07 PM
Generally speaking, yes.
Answered on May 14th, 2013 at 1:07 PM
Deborah F. Bowinski
No. Refinancing a mortgage loan is never required. If your current lender will not work with you try to find a new one.
Answered on May 14th, 2013 at 1:06 PM
You do not have to reaffirm a mortgage to keep your home. Doing so is an incredibly risky thing to do. Ignorant people at your mortgage company may claim that you don't qualify to refinance with them because you did not reaffirm but even if you had reaffirmed there would be no guarantee that this lender would refinance you. If you qualify to refinance with someone else, they may wish to see your payment history with your current lender but they shouldn't care if you reaffirmed this debt or not.
Answered on May 14th, 2013 at 1:06 PM
bankruptcy Attorney serving Paul, ID
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Paul N. J. Ross Law, PLLC
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This is an issue of hot debate at present. Generally, no you do not have to refinance your home or with another company. Although apparently some companies will require a reaffirmation to refinance.
Answered on May 14th, 2013 at 1:06 PM
Personal Injury Attorney serving Glendale, CA
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JT Legal Group
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You don't have to reaffirm and most central district judges won't let you reaffirm. The other issue is that your payments won't be reflected in your credit report. Finally, you don't have to reaffirm to refinance a mortgage but banks tend to not do it because they don't understand what's going on. Some banks have began saying they won't deal w/o a reaffirmation and that's becoming a real big problem.
Answered on May 14th, 2013 at 1:06 PM
Consumer Finance Attorney serving Vancouver, WA
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Robert Russell Law Office
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You are not required by the Bankruptcy Code to reaffirm a debt secured by real property.
Answered on May 14th, 2013 at 1:05 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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Some banks seem to require this, but I cannot understand why. Perhaps a different lender would be the wise choice.
Answered on May 14th, 2013 at 1:05 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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It depends on your mortgage company. The bankruptcy court does not make you reaffirm your mortgage. In fact, in Arizona the court tries to dissuade debtors from entering into reaffirmations on real property.
Answered on May 14th, 2013 at 1:05 PM