QUESTION
Will I be sued by bank on a loan that was not reaffirmed in a Chaper 7 Bankruptcy?
Asked on Mar 10th, 2013 on Foreclosures - Florida
More details to this question:
Filed chapter 7 Bankruptcy in 2008. Bankruptcy was discharged five months later. I stated in letter of intention to reaffirm my mortgage. I found out after over a year of making modification pmts to bank, that loan had been discharged in BK. The VP of bank lending dept. verified this in writing. I stopped pmts to the bank two years ago. Now the bank is suing me for the entire promissory note plus foreclosure on my home, stating that when I signed the modification agreement with them I reaffirmed the loan. I don't dispute the suite to foreclose on my home, but I would like to know if they can sue me for the loan that was discharged in bankruptcy court in 2008?
1 ANSWER
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If the note that is secured by the mortgage was a part of the bankruptcy, the debt was discharged. However, the mortgage was not discharged. Therefore, you would be subject to a foreclosure acton but no deficiency judgment should issue.
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Answered on Mar 10th, 2013 at 7:11 PM