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Foreclosure/Home Mortgage


Hello Mr. Clardy,
I'm married and in process of a chapter 7 business bankruptcy. I'm the only one filing bankruptcy. The business was in my name only. My major worry is our home mortgage, which is in both of our names. I understand how a reaffirmation agreement works. We are about $60,000 underwater on the home. If I don't sign a reaffirmation agreement or if the judge denies it, if I do sign it, will our mortgage company look to foreclose on the home if we are current with our mortgage payments. Some people have told me that more than likely they will want to foreclose on it without a reaffirmation agreement. My big question is, can they foreclose if my husband is not filing bankruptcy and the mortgage payments are being made on time ?  I'm really worried about that, because, if they can, that would then ruin my husbands credit. If that happens, how is it possible to even find a rental place to live, since most places require decent credit to get a rental. Please help !

Thank you in advance,

the mortgage company has the right to foreclose on your interest in the homealthough if you are upside down by a minimum of 60 thousand dollars and are making payments on time I don't see any logical reason for the mortgage company to take that action I'm sure you also have the right to include your home in the bankruptcy if it becomes necessary


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James D. Clardy


I have spent the last twenty-five years saving homes from foreclosure in South Carolina. I have extensive experience negotiating with lenders. I have postponed foreclosures for up to four years before the lender finally gave in and let my client keep her home "This is my specialty". One should never give up, even if you think it’s impossible. I know the ropes and can slug it out with the best of them. I can answer questions about what “to do” and what “not to do” during the foreclosure process as well as the pre-foreclosure and post-foreclosure process.


Twenty-five years of stopping foreclosures in South Carolina, to include properties both listed by Realtors and those owned by banks. Foreclosure properties to include pre-foreclosure and post-foreclosure , and what to do next.

I was a Real Estate Broker in South Carolina for the past twenty-seven years.

I have written several articals on E-How

Some college

Past/Present Clients
Thousands over the last twenty seven years

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