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Top 3 Reason NOT to Reaffirm a Mortgage in Bankruptcy

On Behalf of | Jul 21, 2015 | Guidance

1. Truth is, if the lender is not going to report to the credit bureau, the debt to income ration should be minimized by not reaffirming the mortgage.

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2. Borrower‘s struggling through a Chapter 13 have a hard time making mortgage payments on time; thus the likely hood of negative information is high if reaffirmed.  

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3. If not reported, the borrower can name thepayment here or there, catch up payment, and pay whatever late fees accrue; all without risking a negative trade line on a credit report.

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