What's the play here? Mortgage went up!

[fiats3]

O.k. I'm about to have my Chapter 13 confirmed tomorrow (probably) after 1 year of going back and forth with the court and the trustee . They got me for $660/mo., or 51% of my debt (I went pro se and I paid for it dearly).

Today, I received a notice from my mortgage company saying my adjustable mortgage rate is going from 7.7% to 9.2% (which equates to a payment increase of approx. $300, from $2,200/mo to $2,500/mo).

Question: After I'm confirmed tomorrow, can I get my trustee to lower my $660 Chapter 13 payment accordingly, due to this unforseen increase in my expense base?

Or, should I just refi my mortgage? Can I refi after being confirmed tomorrow, and if so, how long do I have to wait? I would prefer just to cash out the Chapter 13 ($50K).

[anonymuse]

Since you don't have a lawyer, call the trustee as soon as you can. I know there's some kind of proceeding where you can amend a plan; however, since your plan isn't confirmed yet, it's better to do whatever you need to do to get it right the first time. Good luck!