On Sept. 29 the bankruptcy that my mother and I filed (seperately) was discharged. We used a bankruptcy lawyer so that every thing was done correctly. We have a regular mortgage with GMAC on our house and an equity line with a bank that is local to our city.
The local bank (Central Bank) was at the hearing and we re-affirmed the loan then and there. GMAC was notified according to our lawyer. However we never received a re-affirmation letter from them.in no way do I want to lose my house so I have continued to make payments on time since the bankruptcy up until the beginning of this year. Due to different financial reasons I have gotten a couple of months behind in payments and a need to utilize some of my equity that I have built in my home I need to re-finance at this time.
Today July 26 I am trying to re-finance with GMAC and have discovered that because they never sent a re-affirmation letter that my loan to them is showing on my credit report that I included them in my bankruptcy. The bankruptcy division of GMAC is saying that my lawyer has to contact the judge to reopen the case for us to request a re-affirmation letter from GMAC. Now my lawyer told me today before I found out just how bad this is that it is in my best interest that I don't re-affirm with them. He says that GMAC was contacted at the time of the bankruptcy and notified.
I am terribly lost and now that I have started reading these reports on this site I am unsure what to do. I have a call into the bankruptcy lawyer I utilized and hope to hear from him tomorrow. At this point I certainly am unsure of refinancing with GMAC and I want this corrected on my credit report. I have a feeling I am about to begin an ugly treck into the mortgage world.
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