Can I Reaffirm My Mortgage in a Chapter 7 Bankruptcy?
Filing for a Chapter 7 Bankruptcy can be an intimidating process. It is important to understand the process and know your rights if you are in this situation. One of the questions many people ask is: Can I Reaffirm My Mortgage in a Chapter 7 Bankruptcy? The answer to this question depends on several factors, including the type of mortgage you have and whether or not you are able to keep it after bankruptcy.
The first step is to determine if your mortgage meets certain criteria set by the court. If it does, then you may be allowed to reaffirm your mortgage and remain in possession of your home. This means that you will continue making regular payments on time until it is paid off. You will also need to provide evidence that shows that keeping the house is beneficial for both yourself and creditors involved in the bankruptcy case.
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