Think I'm in big trouble. Behind 12 months on mortgage, 1 year left to go on Plan

[chinup]

I know I know. All my fault. New baby, tried to make it work. Good news is I received a promotion just 2 months ago. Bad news is my loan went from BofA to Rushmore and they just sent in a motion to lift claiming I am 12 months behind-Rushmore, not BofA. Now I knew I missed a few, not 12 months. Either way 8 or 12 months, I cannot pay it in one lump sum. Hearing is in 1 month. Still have not heard from my attorney after two calls. Thinking Tier 2 HAMP might be an option but was modified in 2011 , though my original loan was taken out years prior to that. HAMP states only loans before 2009 qualify, unsure if that is the original or modified. With only 1 year to go, adding what I owe is going to be impossible to my plan payment-which is up to date. Not sure how easy Rushmore is to work with, was waiting to hear from my attorney first before reaching out to them. Thoughts? And yes, I know, it's all my fault. With the recent promotion I can easily make it work-now...... Located in California.

[justbroke]

Hey chinup... life happens! My favorite expression. A new baby and demands of a Chapter 13 are not easy to overcome. Not that it matters now, but did you ever seek a modification of your Chapter 13 Plan after the baby was born? (just wondering.)

You'll need to run some numbers and determine your best financial route. Obtaining a refinance under HARP may be a good plan if your home is not underwater by more than 10% (just a number I like to use). The RFS Motion will likely be granted, but that doesn't stop you from requesting a refinance under HARP or HAMP or whatever is going on these days.

I'm not blaming you at all... life happens. When life happens I only ask that we step back and reassess our ambitions as well as our goals to realign with life's new challenges. I wish you the best!

[spidge]

Sorry to hear of your challenges, but congrats on the promotion. I can only share my story but it sounds like you went through some of the same issues and received a mod already.

I wish you the best.

[chinup]

Still have not heard back from my attorney which is no surprise as this was his style in the beginning of this all. I should have went elsewhere, but that is now behind me. I called the bank, they were very friendly. Said to ask the attorney to file the court that a loan mod is requested .They told me where to download the documents and to send it in ASAP. I can borrow the money but then I would have to pay that back. I can also sell a car and then ask them to add the difference to my plan payment, not sure how agreeable the trustee would be. I only have 12 months from 60 to go.

[159515951]

When you knew you were going to have either a reduction in income or an increase in expenses (or both) due to the baby, I bet you could've petitioned for a reduction in Plan payment. Hindsight, but saying it anyway to hopefully help others that might read this before getting into the same situation.