Can I Reaffirm My Mortgage in a Chapter 7 Bankruptcy?

When filing for bankruptcy, it is important to understand the implications that it has on your finances. In particular, many individuals are curious if they can reaffirm their mortgage after filing a Chapter 7 bankruptcy. The answer is yes, as long as you meet certain criteria.

In general, you must be able to demonstrate an ability to make payments going forward in order to successfully reaffirm your mortgage during a Chapter 7 Bankruptcy. You will need to submit proof of income and other financial documents which the court will use in determining if you can maintain the current mortgage payments or not. Additionally, the court may require that any past due amounts be paid prior to confirmation of the reaffirmation agreement.

If approved for reaffirming your mortgage with a Chapter 7 Bankruptcy, this does not mean that all remaining debt associated with the loan is discharged.

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