Do you reaffirm a mortgage in a Chapter 7 bankruptcy?

Answer by  sdavis14 (14)

Yes, if you do not reaffirm your mortgage, the automatic stay from filing Chapter 7 bankruptcy will be lifted and the lein holder can foreclose on the property

Answer by  Mary (2095)

This is an option that you can negotiate with a mortgage provider, if you want to keep the property. It is similar to refinancing a mortgage and new terms for interest and payments would be part of the reaffirmation. The court would also need to approve.