Mortgage/Foreclosure/Bankruptcy question in...
...California? I filed Chapter 7 bankruptcy over a year ago and was granted the discharge. It was granted with intent to keep my house/mortgage (payment was very high-which allowed for a chapter 7 and not chapter 11). I never signed a reaffirmation agreement with my lender and the house is at an adjustable rate (currently at 9%) and i have fallen several months behind. The balance owed on the home is almost double the value. My question is: If I walk away, am I responsible for the difference in value--or am I covered from Chapter 7? What about the premise of me granted chapter 7 because of the large mortgage payment--will I be responsible for paying back some of the other debt because I dont have the mortgage payment--or is that all done with since chapter 7 was already granted?Thanks for any help (losing a lot of sleep!)
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