Legal Question in Bankruptcy in New York

Re: Reaffirmation Agreement

Reaffirmation Agreements are generally drawn

by the lienholder, not the debtor's attorney

although there is no prohibition against

the debtor's attorney drafting and processing

a Reaffirmation Agreement.

There is a common practice of not having such

agreements with regard to mortgages. In

this jurisdiction, the overwhelming practice

of the bank is to continue to collect the money

and ignore the bankruptcy This occasionally

results in a loss of personal liability, but

the lien survives the bankruptcy and the

bank can still enforce its debt through

foreclosure.

The real question is why the perceived need

for the agreement?