Amherst, NY Bankruptcy Law Firms & Lawyers

No it is not advisable to reaffirm a mortgage and the time to have done that is over as there is a specific timeframe during which a reaffirmation can be executed. More importantly, you are not required to have reaffirmed a mortgage in order to later obtain re-financing. What you may need is a written proof from current lender that shows what payments that have been made on the loan since the Bankruptcy filing. Send a written request to your current loan servicer asking for a statement showing account activity since the BK case was filed. The potential new lender in determining whether to finance a loan will want to see the current balance on the note and proof of consistent on-time payments. You can also request that this statement be appended to your credit report by forwarding it to the credit bureaus with such a written request. Once the document is added to your credit report it will be available to anyone who runs a credit check although it will age with time and therefore I advise my clients that if they wish they can request such a document once a year and append it to their credit report or simply keep a copy in their records and provide it with the loan application when they seek different financing options.

As your debt will be discharged in the case and you will get zero, your only option is to prevent the discharge of it, which is limited to very narrow grounds.