Legal Question in Bankruptcy in Georgia

If I filed Ch 7 on my house but did not sign a reaffirmation agreement am I responsible for the loan ?

I have been living in the house in GA for 2 years since I filed and paying payments until now.


Asked on 8/07/10, 9:43 am

1 Answer from Attorneys
Matthew Purcell

It is not uncommon for someone not to do a reaffirmation agreement on your residence in a Chapter 7. The lender still holds legal title via the security deed, Georgia is a title theory state, but you will not be foreclosed on as long as you stay current on the loan. If you stopped paying and they foreclosed you will lose the house but they will not be able to sue you for a deficiency judgment, which rarely ever occurs in Georgia anyways.

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Answered on 8/12/10, 9:55 am


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