Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Bankruptcy debtors should not reaffirm a mortgage. Reaffirmation of debt in bankruptcy prevents the debt from being discharged, a process explained in greater detail by Kevin Gipson in Chapter 7 Bankruptcy and the Reaffirmation Agreement. Yet, lawyers continue to debate whether to reaffirm a mortgage, without […]
A Focus on Credit History for Mortgage Approvals
Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Fannie Mae announced on Monday that it would soon start taking a longer view of consumer credit histories when evaluating mortgage applications, a change that could help some borrowers and hurt others. Beginning in mid-2016, Fannie Mae will require lenders to use what is known as […]