Expert: Terry Leeders - 1/19/2008

Question
we filed bankruptcy and somehow the house was never reaffirmed now we paid on this monthly until 3 months ago basically for 2 to 3 years after the bankruptcy we never missed a payment now we got a letter saying we owed x amount of money but didn't have to pay but the mortgage holder can come for our house

Answer
With no reaffirmation, the debt discharges thru bankruptcy.  Their mortgage lien stays on the property though.  Most lenders will still accept payments and let you stay in the property if you stay current.  You keep paying off the loan, or refinance the property, you can keep the home, despite not having reaffirmed the debt thru bankruptcy.  If you fall behind, you can walk away at any time and not owe a dime on the mortgage (unless you refinanced post-bankruptcy) then the lender will foreclose to transfer the title back to them.