If it was discharged, then you don't owe it anymore. However, you can't just assume that any particular debt was discharged by the bankruptcy, it has to be specifically listed.
In particular, you probably cannot keep your house AND get your second mortgage discharged.
Was the 2nd lien included in and discharged in your bankruptcy? If not, then that lien still encumbers the title to the property and is probably a debt you still owe.
The biggest problem with second mortgage foreclosures is that you can lose your home even if you are still current on your first mortgage. The second mortgage, if defaulted on supersedes you first mortgage.
You still owe the money to the mortgage provider.
NO. The second mortgage is still secured by the property. Therefore it has to be reaffirmed or paid according to the stipulations of the lender.
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
Was the 2nd lien included in and discharged in your bankruptcy? If not, then that lien still encumbers the title to the property and is probably a debt you still owe.
The biggest problem with second mortgage foreclosures is that you can lose your home even if you are still current on your first mortgage. The second mortgage, if defaulted on supersedes you first mortgage.
No. You still have to pay the mortgage.
Nothing happens to it. It still remains in second place.
Nothing happens, the lien still exists- and the 2nd lender can still foreclose if you stoip making payments. The bigger worry is why you would WANT to reaffirm a mortgage debt!
Your mortgage should have been included in your chapter 7 discharge. If it was- then you are no longer liable for the mortgage, but the lender can still foreclose on the property. If the mortgage was not included- then why wasnt it included.
You still owe the money to the mortgage provider.
NO. The second mortgage is still secured by the property. Therefore it has to be reaffirmed or paid according to the stipulations of the lender.
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
Yes, but child support is not discharged in bankruptcy.
Never get a second mortgage --- only if you want to keep your house. 2nd mortgagees can foreclose on you
Even if you have had a foreclosure, tax on a second mortgage or home equity loan is still deductible.