Is it too late to request a chapter 13 modification

[sophieanne]

Hi everyone,
This is one of those dumb things that slip past you, until you take a closer look a couple years later.
My lawyer calculated our monthly payment based on data that was in the Schedule 3. Everything looked good to me..until today (now down to 22 payments left).He showed our mortgage payment and indicated that "No" real estate taxes are not included.

Further down the page the question was asked Taxes(not deduced from wages on included in home mortgage payments). He put 0. Whoops..wait a minute, that should've been $230/month or $13,800 over the 60 month period. That's a good amount f money to be paying into the plan that we shouldn't have been.

I wouldn't expect things to go backwards, but is there a chance this could be corrected for the remainder of this plan or was this just a dumb mistake that was missed and now live with it. P.S. the Chapter 13 Statement of Current Monthly Income and Calculation of Commitment period and disposable income (Form 22c) came out to the same payment amount as Schedule 3.

Any though (good or bad) would be appreciated.

[dmc-2008]

I have no idea but I bet the guru's can answer that. I sure hope you can get that modified without too much trouble, that looks like it would make a huge difference! Good luck!

[despritfreya]

I assume your mortgage payment does not include an escrow for property taxes and you pay such taxes on your own.

If reducing funding still gets you where you need to be (pays what needs to be paid such as arrears, secured, taxes, value of non exempt property etc.) you can seek to modify your plan going forward. However, tread lightly. If your income has gone up over the past three years you may not want to open that can of worms. Talk to your attny. The two of you need to work on that all important budget before opening up a confirmed plan.

Des.

[sophieanne]

Thank you Des.

I'm in a 100% plan. I pay mortgage and property taxes outside the plan. My plan does not include a second mortgage or arrears, etc. My plan is based totally on paying back unsecured credit card debt.
I agree about talking to my attorney first.

[LadyInTheRed]

Since you are in a 100% plan, keep in mind that modifying your plan will likely increase your attorneys fees. Take that into account when determining the benefit of a modification.

[sophieanne]

Good point Lady!!! enough is enough.