If the mortgage lender currently has a lien on my home and I keep my payments current, what will happen at the end of the loan?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If the mortgage lender currently has a lien on my home and I keep my payments current, what will happen at the end of the loan?
During my bankruptcy 2 years ago, the judge discharged my home loan and would not approve a reaffirm agreement with my home lender. My lender therefore put a lien on my home. Before, during and after my bankruptcy I have continued to make payments in full and have never been late. What is going to happen in 20 years when the last payment is made? Will I completed my obligation and will the lien been removed? Will I received the deed to the home that I have been making payments for? Or am I making a mistake of continuing to make payments without a reaffirm agreement?
Asked on October 2, 2011 under Bankruptcy Law, California
Answers:
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 13 years ago | Contributor
I think you're confusing some things here. Your "lender" as you put it, is legally prohibited from placing a lien against your property after your bankruptcy case is filed. I'm going to assume that this is a mortgage you are referring to, and that the lien was created prior to you filing your bankruptcy case.
In that instance, once you complete the remaining payments due on your loan, you should receive the deed to your house as the lien will have been fully satisfied.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 13 years ago | Contributor
I think you're confusing some things here. Your "lender" as you put it, is legally prohibited from placing a lien against your property after your bankruptcy case is filed. I'm going to assume that this is a mortgage you are referring to, and that the lien was created prior to you filing your bankruptcy case.
In that instance, once you complete the remaining payments due on your loan, you should receive the deed to your house as the lien will have been fully satisfied.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.