Expert: Terry Leeders - 4/13/2008

Question
I filed Chapter 7 Bankruptcy last year and the case was discharged.  The case was closed on December 2007.  I did manage to hold on the my house and mortgage. I am having finiancial troulbe again and can't make my mortgage payments.  Is there anyway I can re-open my case and add my current mortgage was I already had at the time of the bankruptcy?

Answer
Your mortgage is already in the bankruptcy.  The issue is if you signed a reaffirmation agreement or not.  If you did, then you are on the hook, and you cannot change it.  If you didn't sign one, then you are not on the hook for the mortgage, and can keep the home by keeping up with the payments, or you can surrender the home, let them foreclose, and you would not be responsible for the mortgage any more.