Is it possible to do a mortgage mod while in an active Ch. 13?

[HHM]

I assume by ratio, you mean your mortgage payment is 22% of your gross income.

If that is the case, modification is a non-starter.

By the same token, it doesn't hurt you to apply (aside from the time), but don't default on payments.

[NeedOptions]

Yes, my mortgage is 22% of our income. I will definitely apply. Thanks again HHM.

[flowerchild]

I was going to let my house go 3 years ago because I was just done paying for a home that was $200K underwater. I talked with my attorney and he said that I could let the house go if I wanted to but after I found new housing that my payments to the trustee would more than likely increase. I stopped paying my mortgage so that I could have some money to move out with. In the meantime my bank offered me a mod when they realized I was serious about letting this thing go. Once they came in with a more than decent rate, my attorney petitioned the courts to have the automatic stay while they did the modification. The modification took my mortgage down to a payment that was less than the rent in my area for the type of place that I would want. The process took about 7 months from start to finish, but it was one of the longest 7 months of my life. BTW, I was working with NACA as well and they did an awesome job.

[NeedOptions]

Thanks for the info, Flowerchild. On one hand, I really would like a modification while on the other hand I am dreading the wait time and then probable decline. What I really need to do is to decide if I am ready to leave the house just in case the mod doesn't work. My wife desperately wants to keep the house and not to go down the modification path. Rents have risen a lot in the past year so even if I left the house, it would cost me $2,000/month for a comparable house to rent. Not sure if I am willing to rent a house for that much money.

[catleg]

Wells Fargo will definitely file a motion for relief from stay and charge you attorney's fees.
This is one of the little ways that they, as a servicer, make money.
$500 here, $500 there, pretty soon it adds up.
What they do after that is anybody's guess.