a show of hands

[sadandconfus]

any successful loan mods after filing a chapter13. obviously there is hardship otherwise you wouldn't have to file bk. please say what company you have and how much the loan mod was for

[spidge]

Please don't get upset that I am responding as I have not filed yet. I did get the first on my house to modify back in November but my second does not seem to want to budge. I was surprised that the first modified at the time I had not paid a dime on any CC debt for over a year.
By the way the savings on the first is 785 a month or 47,100 over the five years interest only period.

[sadandconfus]

Please don't get upset that I am responding as I have not filed yet. I did get the first on my house to modify back in November but my second does not seem to want to budge. I was surprised that the first modified at the time I had not paid a dime on any CC debt for over a year.
By the way the savings on the first is 785 a month or 47,100 over the five years interest only period.

wow thats great. i'm hoping i can modify after i file. i don't think i have enough time to try to modify now, because the creditors are knocking down the door. i understand my filing will stop them..what company are you with i'm with emc. both loans.

[sadandconfus]

Please don't get upset that I am responding as I have not filed yet. I did get the first on my house to modify back in November but my second does not seem to want to budge. I was surprised that the first modified at the time I had not paid a dime on any CC debt for over a year.
By the way the savings on the first is 785 a month or 47,100 over the five years interest only period.

wow thats great. i'm hoping i can modify after i file. i don't think i have enough time to try to modify now, because the creditors are knocking down the door. i understand my filing will stop them..what company are you with i'm with emc. both loans.

[summer64]

I'm not an expert but from what I've read it is very difficult to modify a mortgage after filing chapter 13, especially if any mortgage payments are included in the BK as priority debts. Speak to a lawyer. You may be able to wait a month or two to see if the proposed cram down legislation gets through the Senate. My bank won't budge on a mod, but I suspect that they'll be much more cooperative if this bill passes and if they aren't I'll just ask the judge to do it. My attorney gave me a cease and desist letter to send to all of my creditors except a few like the mortgage. The letter essentially told them we intend to file for BK and that all communications should go through the attorney not us. For the most part this stopped all the calls and letters. The creditors can still take action prior to filing your BK because you don't have an automatic stay, so avoid sending for car loans, utlities, etc, but the unsecured creditors probably won't proceed further after this letter because it would be a waste of money for them to do so.

[spidge]

wow thats great. i'm hoping i can modify after i file. i don't think i have enough time to try to modify now, because the creditors are knocking down the door. i understand my filing will stop them..what company are you with i'm with emc. both loans.

My 1st is with Downey Savings but my 2nd is with Countrywide and they are still calling. Oh well, if they only locked in the rate back in November as I asked I would most likeley be making my payments, but when the rates go up this 2nd would probably double in payment so I am looking to strip it. I would go after the modification on the first asap. All they can do is say no, so give it a shot.