We filed bk a yr ago. We did NOT reaffirm our home but the banks been good with letting us pay and stay on an 18 mo agreement. The agreements up. They know we will not reaffirm since the mortgage was for 217k and the value is now 144k. We asked to continue our pay and stay. The bank said the knew we would not sign a mortgage but would work something out. Then we get the call congrats we have a 25 yr TERM with a seven yr BALLOON and your payments are 300 a month HIGHER and yes the mortgage is for 217,000 73k more than the house is worth. WTH. We are not signing this. Has anyone ever heard of such a thing? Next, even though we went thru the bk they still have to foreclose now we have never missed a payment til today I'm not paying and in Michigan we have a six month period of redemption after the sheriffs sale so..... How long can we live here before we have to move? This doesn't even sound legal! Help? Anyone?