Would CH7 make my bank anymore likely to do a mortgage modification?

[Diesel73L]

With me working and my wife on unemployment, we can afford our mortgage post discharge, but it will be tight. Our hope is that she can get a job or I can get a better one and we'll then be on a solid financial footing. However, with talk of a second recession getting louder and louder that's a shaky proposition. There's always the option of not reaffirming, but our mortgage is held by a small local bank and I'm betting they'd raise a royal stink about it-not sure what they can really do here in NJ if anything, but I don't think they'd be crazy about the idea. Has anyone ever gotten a mortgage modification after filing? I should add that we're at least $30K underwater at this point. I mean I suppose I could put it to them this way-it looks like there are three scenarios here:

We could reaffirm, fall behind, and they foreclose-now they have a foreclosed property on their hands to get rid of.

We could not reaffirm, decide the payments are too much and simply walk away, essentially leaving them in the same position as the above.

We could get a modification and keep paying until we sell or pay it off and everyone lives happily ever after.

[keepsmiling]

Keep reading. I do believe there have been a number of mods post filing. But most here on the board strongly suggest you do NOT reaffirm, especially on an underwater house. Have you read the "why it's a very very bad idea to reaffirm" thread? I can't find it right now but surely someone has it handy.

If you mention the bank, perhaps someone has dealt with that specific one.

I hear it's two years here in NJ for fc. Seems to me they'd want to work with you. Then again banks don't always think logically.

[Krazy]

A friend of mine could not get cooperation from the lender for a mod (Ocwen). After filing BK7 they were very cooperative, approved her within 2 months.

[justbroke]

My lender approved a lender-initiated modification within 8 weeks of filing. Discharging the debt in the bankruptcy seems to motivate them a little more. However, this is not written in stone or any law. The banks are in the mood of trying to get payments in whatever way they can.