Chapter 7 - 341 Meeting on Tuesday 3/31/09 Lots of Questions

[StartingOver08]

Once you have filed, Countrywide can not contact you. You can contact them - call them - you will have been placed in the Bk dept most likely. It is a violation of the automatic stay for them to contact you after you have filed.

OP = Original poster (person that started the thread!)

Are you sure you want to keep a home that is way upside down???

[IBroke]

Ah, sorry..

The OP would be you (Original Poster).

If you have no equity, you should be fine.

[IBroke]

Are you sure you want to keep a home that is way upside down???

That's a good point. Now what kind of modification did they offer you?

[r131313w]

My payment was lowered from $2500 to $1950 a month. It's a step Interest rate plan so its 4.75 for the next year. Then up to 5.75 for the second, then back to the original 6.75% in the 3rd year. And my loan went from a 30 to 40 year term.

Yes - I do want to keep the home it's been a good home for my family, and we'd very much like to stay.

[OhioFiler]

My payment was lowered from $2500 to $1950 a month. It's a step Interest rate plan so its 4.75 for the next year. Then up to 5.75 for the second, then back to the original 6.75% in the 3rd year. And my loan went from a 30 to 40 year term.

Yes - I do want to keep the home it's been a good home for my family, and we'd very much like to stay.

Emotional attachment to an inanimate object. I'd rethink this decision.

[r131313w]

Had the 341, took 10 minutes! My case is a NO ASSET case.

I love my home, it's not an investment to me. Isn't that how this whole disaster started, everyone viewed their home as an investment and borrowed against it. I even fell prey to it.

Now I just need to get in contact with Countrywide and figure out when I can start making payments on my new home loan (post modification).

My lawyers said I should be discharged in 4 to 6 weeks!!!

Screw credit cards..... Cash is the way to go! $90,000 in debt gone...

GOT MY BAILOUT!