Using the Automatic Stay in Chapter 13 to Stop Foreclosure
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When deciding to keep your property, many mortgage companies and some vehicle lenders will not agree to enter into reaffirmation agreements
. It is possible that the some mortgage companies handling home loans will process reaffirmation agreements. If this is the case,you should explain to the prospective mortgage lender that before the new bankruptcy code, mortgage lenders and debtors were not required to enter into reaffirmation agreements. With the absence of a reaffirmation agreementtoday, you probably would not be able to keep your home.
Using the Automatic Stay in Chapter 13 to Stop Foreclosure