Any Advice?

[Inrealdeep]

The one thing I've learned from being in a Chapter 13 ( and the poor economy in general) is that you HAVE to make some changes. If you can't make the changes, then you need to come up with other options. Chapter 13 is not for those that want to keep their same level of lifestyle and not give up material things.

My plan was also negative with my disposable income but I have to make it work. The way I look at it is this.......my payment ($127) is far less than a wage garnishment should my creditors sue and get a judgement.

As far as keeping your house until the economy picks up........how long are you willing to wait? How long are you willing to struggle to keep your house? What are you getting right now from owning a house over renting a house? You surely can't be building any equity. Millions of Americans have lost their homes and are happy to be able to rent over living in their cars.

I'm with you on that MJ, thanks.

[HHM]

Very interesting about the zero payment 13. Does that mean one is protected now but payments begin sometime in the designated future?

It's not only being emotionally attached but financially as well, the house is Florida waterfront and when the economy swings back around I could at least recoup some of my equity losses and not have to throw away money on rent. So I feel I owe to myself to at least get an answer from the bank.

We don't qualify for Ch.7. We have a combined income over 50k.

You can't make a decision in the here and now and speculation about the future. The economy improving is not suddenly going to turn around home prices...that is wishful thinking.

If you are more than 15% negative equity, that house is toast. You lost, get over it.

[Inrealdeep]

Very interesting about the zero payment 13. Does that mean one is protected now but payments begin sometime in the designated future?

It's not only being emotionally attached but financially as well, the house is Florida waterfront and when the economy swings back around I could at least recoup some of my equity losses and not have to throw away money on rent. So I feel I owe to myself to at least get an answer from the bank.

We don't qualify for Ch.7. We have a combined income over 50k.

Also, with new loan mods appearing almost daily how can anyone be sure the bank isn't willing to help avoid forclosure or a large loss from a short sale? Again, I'm not expecting it, I just haven't heard anything to the contrary yet.

[rrockinggramma]

perhaps this OP can convert to a chapter 7 and walk away from the house.

[HHM]

Also, with new loan mods appearing almost daily how can anyone be sure the bank isn't willing to help avoid forclosure or a large loss from a short sale? Again, I'm not expecting it, I just haven't heard anything to the contrary yet.

Again, holding onto hope. Let me ask you this, have you actually seen anyone get a loan mod that will work for you. The fact is, loans mods are not happening...the so called HOPE program was supposed to have 19,000 applications by now, but they have only had 111, reason being, no one qualifies. About all banks are offering right now is to put your missed payments on the Principal balance to make you current. I have yet to see or hear of anyone that has had a principal reduction or an interest rate reduction.

The emotional roller coaster of financial stress is not unlike Kubler-Ross Grief Cycle.

Denial
Anger
Bargaining
Depression
Acceptance

The cycle is not a perfect match for BK...but you are somewhere between Denial and Bargaining.

[Inrealdeep]

Again, holding onto hope. Let me ask you this, have you actually seen anyone get a loan mod that will work for you. The fact is, loans mods are not happening...the so called HOPE program was supposed to have 19,000 applications by now, but they have only had 111, reason being, no one qualifies. About all banks are offering right now is to put your missed payments on the Principal balance to make you current. I have yet to see or hear of anyone that has had a principal reduction or an interest rate reduction.

The emotional roller coaster of financial stress is not unlike Kubler-Ross Grief Cycle.

Denial
Anger
Bargaining
Depression
Acceptance

The cycle is not a perfect match for BK...but you are somewhere between Denial and Bargaining.

You are correct. I'm sure it's "slim to none" but I need to actually hear the bank say Slim just left town.

So can I continue to procede against this motion for dismissal? I would obviously need to chuck the house in with it. Any suggestions here? Thanks.

[Flamingo]

What you "should" have done was shown up for the 341 and gone over all the information with the Trustee you and your attorney discussed. Our situation changed also prior to our 341 but we showed up, went over it, and the Trustee told our attorney to modify our plan, resubmit to him to reduce our payment and institute refinancing at the end our plan to pay off the balance in full. Changes and modifications are done at 341's as was done with us. You just didn't know that and assumed not showing up would end the matter. Now you will have a dismissed Chapter 13 on your records along with whatever else you need to or can do from here on out. In your situation (as in ours), you wanted to keep your house but by not showing up at the 341 worked against you and put your attorney on the spot so with that occurring you are where you are. I hope you can get your attorney to continue to represent you after this if you can get out of this dismissal or refile your Chapter 13 since you state you cannot file a Chapter 7...best of luck to you...