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Reaffirmed & Not-reaffirmed

This is in reference to a mortgage lien that’s part of a bankruptcy. If the lien is reaffirmed that means the borrower acknowledges the responsibility for the debt, and the lender can pursue the homeowner in the event of a default. If the borrower does not reaffirm the lien, then the lender can only go after the property, and not the individual, in the event of a default.

***All information is deemed to be accurate, but is not guaranteed***

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