[CLBS] Reaffirming Mortgages

[Michael Jacques]

Thanks for all the responses.  You have confirmed my previous perspective.  In general, I have discouraged reaffirming mortgages in order to diminish liability for any future financial hardship (which seems to be circular and recurring for many clients), but recognize the issue of reporting to the credit bureau and now have clients that want to reaffirm for that purpose.  They have equity in the home, so it didn’t appear to be a huge mistake, and the responses have confirmed that under that circumstance it is not necessarily a bad idea.

Thank you all for your input!

Michael Jacques, JD
JACQUES LAW
Office: (208) 344-2224
Fax: (208) 287-4300

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From: paulnjrosslaw at gmail.com [mailto:paulnjrosslaw at gmail.com] On Behalf Of Paul Ross
Sent: Tuesday, February 6, 2018 5:08 PM
To: Michael Jacques <michael at jacqueslaw.net>
Subject: Re: [CLBS] Reaffirming Mortgages

Just like any other reaffirmation agreement.  Review for potential deficiency, will the creditor negotiate terms, etc.


On Tue, Feb 6, 2018 at 4:10 PM, Michael Jacques <michael at jacqueslaw.net<mailto:michael at jacqueslaw.net>> wrote:
What is the groups' opinion on reaffirming mortgages here in Idaho?

Michael Jacques, JD
JACQUES LAW
Office: (208) 344-2224<tel:%28208%29%20344-2224>
Fax: (208) 287-4300<tel:%28208%29%20287-4300>

CONFIDENTIALITY NOTICE: This is intended for the confidential use of the named recipients and is covered by the Electronic Communications Privacy Act, 18 U.S.C. §§ 2510-2521. It may contain information that is privileged, confidential and/or protected from disclosure under applicable law, i.e. attorney client privilege, work product, etc. If you are not the intended recipient of this transmission, please notify the sender immediately by telephone and do not distribute or copy this transmission.

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