Hi Folks...Two years down!

[lolly78]

Hi Folks,

I'm always lurking around, but February marks two years down in my chapter 13 so I figured I give an update. Everything has been going pretty well. Several of our expenses increased including homeowners insurance and our property taxes (even though the value of our home continues to go down) which increased our mortgage, so we applied for a modification. We were granted the modification and have to make three trial payments then it will become permanent. I am concerned whether the trustee will notice this or not (although they didn't say anything when the payment went up!). Our mortgage payment is actually decreasing by 20%. Has anyone else accepted a modification during their chapter 13 plan?

Thanks!

[LadyInTheRed]

Congratulations on passing the 2 year mark!

My mortgage company sends a notice to my trustee every time my payment goes up or down for interest and impound account adjustments. Nothing has ever comes of it, but they are always pretty minor changes. You should let your attorney know about the modification just in case you need to report it to your trustee.

[lolly78]

Thanks Lady! I sent him a message today!