A Hidden Advantage of Not Reaffirming: the Freedom to Move

Guest Post by Atlanta Bankruptcy Attorney Peter Bricks.

A reaffirmed mortgage is a mortgage that you remain stuck with just as much after a Chapter 7 bankruptcy as you were before the Chapter 7 bankruptcy. A non-reaffirmed mortgage after a Chapter 7 bankruptcy, on the other hand, is a mortgage you can walk away from if you need to.

To read more, click here to read our full article about the advantages of not reaffirming a mortgage in Chapter 7 bankruptcy in Michigan on the new Michigan Bankruptcy Blog of Michigan bankruptcy attorneys The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact me at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

2 responses to “A Hidden Advantage of Not Reaffirming: the Freedom to Move

  1. You raise a great point, as Debtors can simply pay and stay in their home. However, recently, many auto financing companies are taking the position that paying on the contract is not enough to retain their car or truck.

  2. Pingback: Yes, You can still own your house after you file Ch. 7 | Bankruptcyblog.org

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