Discharged!! Yea! But still have ?s

[treadingwater]

Hi all,
We were discharged on 1/7, yippee

The problem is that we want to stay in our house and retained an atty. to negotiate with BB&T in September (the month we filed). They are telling her they won't negotiate with us until we sign a reaffirmation agmt. Is that even still allowed after discharge? They never filed a Motion for Relief of Stay either. We haven't made a payment since Sept. and they are really dragging their feet with the atty. Our hope was to get a modified loan with new terms since the original loan was a construction to perm and it looks like the remodeling will drag on for years. Anyone out there with advice on this one? I'm desperate to keep my home as it's my only security in all this mess. We owe WAY more on it than it's worth (right now) but after the remodeling is done, it will jump in value. We love our home and wanted to raise our kids here and live forever. We just need it modified to a permanent loan with a reasonable interest rate. Now I'm scared the bank will come out of nowhere and foreclose on us.

[PoorGrammyinBK7]

If you are not paying, they can foreclose -- will they -- another question.

[Flowers]

I am in the exact same situation, except no discharge yet.

I call Chase at least once a week.

At this point, they tell me they can not discuss as I am in bankruptcy and that I should disucuss with my attorney.

So like I said I call once a week to explain that my intention is to stay in the home and look forward to working with them when it is the appropriate time. But like you, I need a loan modification.

What does your lawyer say about reaffirmation agreement???

[StartingOver08]

Well, I know why they would request a reaffirmation, but I don't know why you would consider it. If you sign it then they can drag their feet on the modification, and ultimately never approve the modification and you are STUCK!

My opinion - do not sign the reaffirmation.

[treadingwater]

Well, the lawyer seems to think we should sign the reaffirmation since we can cancel it anytime within 60 days. I don't think a judge would approve it though. I agree that we would be giving up any negotiating "power" if we sign it. She also seems to think it would be reaffirming the amount but not the terms? This doesn't make sense.

She told them to send it over three weeks ago, but there is just deafening silence from the bank. She is handling another case with the same bank and they refused to modify and foreclosed.

I'm not even sure if a reaffirmation can be done once we're discharged?

[TEW]

Hi all,
We were discharged on 1/7, yippee

The problem is that we want to stay in our house and retained an atty. to negotiate with BB&T in September (the month we filed). They are telling her they won't negotiate with us until we sign a reaffirmation agmt. Is that even still allowed after discharge? No you have to do that before discharge They never filed a Motion for Relief of Stay either. We haven't made a payment since Sept. and they are really dragging their feet with the atty. Our hope was to get a modified loan with new terms since the original loan was a construction to perm and it looks like the remodeling will drag on for years. Anyone out there with advice on this one? I'm desperate to keep my home as it's my only security in all this mess. We owe WAY more on it than it's worth (right now) but after the remodeling is done, it will jump in value. We love our home and wanted to raise our kids here and live forever. We just need it modified to a permanent loan with a reasonable interest rate. Now I'm scared the bank will come out of nowhere and foreclose on us.

You need to bring the loan up to date or they WILL foreclose.

[AngelinaCat]

CONGRATULATIONS on your Discharge!!! My very best wishes for a succesful outcome to your home problem.

Here you go!

http://www.youtube.com/watch?v=_1_kgNp9oQg

[treadingwater]

Thanks, we are so relieved to get the discharge and are anxious to start over. We just want the house issue resolved. What are the steps to foreclosure, will we receive papers served by the Sheriff if the bank starts this process? I was so hoping they would consider the modification since we are wanting to stay and willing to pay for the house and finish the addition. I didn't think they would want the house bank in it's condition and considering the value. Hopefully, they will respond soon.