Legal Question in Bankruptcy in Oklahoma

Mortage was not Reaffirmed

I filed a Chapter 7 Bankruptcy in Jan. 1999. I never signed an Agreement to Reaffirm Dept on my house mortgage.

I did continue to make payments but on each monthly bill there is a paragraph that states: ''Our records indicate that in the past you received a discharge of this debt in a bankruptcy case. Section 524 of the Bankruptcy Code tells us the discharge of tis dept means you have no personal obligation to repay it. The discarge also protects you from any efforts by anyone to collect this discharged depbt as a personal liability of the deptor. You cannot be pressured to repay this debt. On the other hand, the security agreement allows foreclosure if the requirements under the loan documents are not met. We also need to tell you that this communication is from a debt collector. This quit summary is not intended as legal advice. You should consult with your own advisors if you have legal questions about your rights.''

My question is: if I let the house go into foreclosure, and since it was discharged, does the mortgage company have the right to hold me liable for the amount owed? OR the difference after they resell it?

2 Answers from Attorneys

Related Questions & Answers

More Bankruptcy Law questions and answers in Oklahoma

Looking for something else?