... and of course the reason for asking. Mine shows payment history on EX, but not on the other bureaus. Across all 3 bureaus it says "Ch7 IIB" and a 0 balance.
Anybody in the same situation or did they just mess the reporting on mine up?
BoA Mod Started during Ch7 but "Confirmed" after
Started by
Fixin It Up
, Jul 02 2012 08:26 AM
4 replies to this topic
#1
Posted 02 July 2012 - 08:26 AM
#2
Posted 02 July 2012 - 09:30 AM
... and of course the reason for asking. Mine shows payment history on EX, but not on the other bureaus. Across all 3 bureaus it says "Ch7 IIB" and a 0 balance.
Anybody in the same situation or did they just mess the reporting on mine up?
Assuming that you did NOT reaffirm mtg during Ch 7 Bk... if so, then the report on ALL CRA should be IIB 0 bal, and NO further reporting of pymts, modification or not. They cannot modify the mtg of a non-reaffirmed Bk and have you be liable for that same mtg following a modifcation. This would violate the Stay of the Bk disch.
#3
Posted 03 July 2012 - 04:16 AM
I agree. And I did tell them I want to reaffirm, not sure if there was a specific reaffirmation document signed. I DID however sign modification documents, and the modification trial payments were made and modification finalized all AFTER the discharge.
To this date, all the monthly statements I get have the "This is not an attempt to collect a debt" disclaimer at the bottom. I do intend on keeping the property, and the reaffirmation was due to that as well.
Should the mod documents have been signed after the discharge, does that also imply that modification is post-discharge and therefore is being reported incorrectly?
To this date, all the monthly statements I get have the "This is not an attempt to collect a debt" disclaimer at the bottom. I do intend on keeping the property, and the reaffirmation was due to that as well.
Should the mod documents have been signed after the discharge, does that also imply that modification is post-discharge and therefore is being reported incorrectly?
Assuming that you did NOT reaffirm mtg during Ch 7 Bk... if so, then the report on ALL CRA should be IIB 0 bal, and NO further reporting of pymts, modification or not. They cannot modify the mtg of a non-reaffirmed Bk and have you be liable for that same mtg following a modifcation. This would violate the Stay of the Bk disch.
#4
Posted 03 July 2012 - 09:30 AM
I agree. And I did tell them I want to reaffirm, not sure if there was a specific reaffirmation document signed. I DID however sign modification documents, and the modification trial payments were made and modification finalized all AFTER the discharge.
To this date, all the monthly statements I get have the "This is not an attempt to collect a debt" disclaimer at the bottom. I do intend on keeping the property, and the reaffirmation was due to that as well.
Should the mod documents have been signed after the discharge, does that also imply that modification is post-discharge and therefore is being reported incorrectly?
Sounds like the mtg debt was NOT reaffirmed, and if so there is nothing you can do about it now. Over and done with, period. Oh, maybe you could re-open the case and reaffirm but a Judge may not even permit this anyway. Not sure why you wanted to reaffirm anyway, was it just for credit reporting purposes? You can rebuild credit in a lot of other ways, if that was the motivation.
The modification will NOT make you liable for the debt following mod if the debt was disch'd in Ch 7 Bk.
In spite of you wishing to reaffirm, you are much better off not being reaffirmed. No telling what may happen in the economy or RE mkt, this way if you were ever in a situation where you couldn't pay going fwd there is NO credit ding whatsoever. You wouldn't have just filed Ch 7 if there weren't issues, so you never know and best to be in a position where you aren't legally saddled with the debt of the mtg pymt; just in case.
#5
Posted 10 August 2012 - 12:26 PM
I agree. And I did tell them I want to reaffirm, not sure if there was a specific reaffirmation document signed. I DID however sign modification documents, and the modification trial payments were made and modification finalized all AFTER the discharge.
To this date, all the monthly statements I get have the "This is not an attempt to collect a debt" disclaimer at the bottom. I do intend on keeping the property, and the reaffirmation was due to that as well.
Should the mod documents have been signed after the discharge, does that also imply that modification is post-discharge and therefore is being reported incorrectly?
Sounds like the mtg debt was NOT reaffirmed, and if so there is nothing you can do about it now. Over and done with, period. Oh, maybe you could re-open the case and reaffirm but a Judge may not even permit this anyway. Not sure why you wanted to reaffirm anyway, was it just for credit reporting purposes? You can rebuild credit in a lot of other ways, if that was the motivation.
The modification will NOT make you liable for the debt following mod if the debt was disch'd in Ch 7 Bk.
In spite of you wishing to reaffirm, you are much better off not being reaffirmed. No telling what may happen in the economy or RE mkt, this way if you were ever in a situation where you couldn't pay going fwd there is NO credit ding whatsoever. You wouldn't have just filed Ch 7 if there weren't issues, so you never know and best to be in a position where you aren't legally saddled with the debt of the mtg pymt; just in case.
Can one NOT reaffirm, and then mod the loan? I am in the midst of a no-reaffirm Ch. 7 and B of A sent me a packet offering a possible modification. I definitely want to stay in the house too. Could I complete the Ch. 7 as planned and then mod?? I am not interested in payment history at this time, just keeping the house. When our situation improves, then I can officially refi in a few years...
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