Legal Question in Bankruptcy in Georgia
Question from Georgia. Filed for Chapter 7, discharge date 08/08/08. Did not reaffirm mortgage debt, but continued making payments with NO misses and NO 30+ days late. Now I'm unemployed, spouse still working but family income 50% of what it was. Two kids each with one more year in college. Can't qualify even for HARP2 refi, lender refuses to discuss HAMP. What happens if we vacate the house, move to a rental, and call the lender and tell them the keys are under the mat?
2 Answers from Attorneys
Legal Answers Turn the keys into a local office or by certfied mail.
As I am sure your Chapter 7 attorney told you, not reaffirming was SMART. It gave you the ability to keep the home risk free and walk at any time.
However leaving the keys under the mat might cause the lender to sue you not for the mortgage but for essentially inviting vandals to destroy the home.
As I am sure your lawyer told you, mail the lender the keys (certified mail) and tell them ina short letter "Since I did not reaffirm my mortgage in bankruptcy and have chosen not to retain my home, here are the keys, and I have surrendered the home to you."
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