Question Details: I filed bankruptcy about 1 year ago.At that time I did not reaffirm my mortgage,My lawyer did not mention or discuss it with me. I am now trying to get my mortgage modified to lower my payment. The lender will not consider it because I did not reffirm the mortgage. Is there anyting I can do?
You can try and re-open your bankruptcy case; this can be done even after a discharge. You can then see if you can re-affirm your mortgage. If so, your lender may grant you a modification. However, if unsuccessful in obtaining one, if you later default and the property goes into foreclosure you could have financial liability. If the property sells for less than the remaining balance on the mortgage, plus costs, your lender could come after you for the difference (ie the "deficiency" amount).
By not re-affirming your mortgage, in the above situation, your lender cannot hold you liable for any deficiency. This is probably why your lawyer didn't have you re-affirm it in the first place.
At this point, you really should to speak to him/her as to all of this.