Will I get a loan mod after a 7 but during a 13?

[helpme2010]

I posted a similar thread in the chapter 13 forum, because I am both a chapter 7 and a chapter 13, so my situation actually relates to both areas of this board.

I discharged a chapter 7 in December and did not reaffirm the house (I chose to let it go), but am trying to work out a loan mod plan with the mortgage company. I recently filed a 13 as I wanted to attempt a loan mod with the mortgage company. This happened one day before the trustees were going to auction my house.

I would like to continue some type of payment plan and stay in this house for a while longer. This will help me stay here until I can get a job and then will eventually move to a new place.

Any thoughts about my odds of getting a loan modification during all this chaos (e.g. after a 7, but in the beginning of a 13).

[Pandora]

Helpme

Here is a thread that can answer some of your questions - go to Momofthree & HHM's responses in particular.

http://www.bkforum.com/showthread.php?67348-file-chapter-13-after-recently-being-discharged-in-chapter-7&p=494687#post494687

Hang in there *hugs*

[helpme2010]

Helpme

Here is a thread that can answer some of your questions - go to Momofthree & HHM's responses in particular.

http://www.bkforum.com/showthread.php?67348-file-chapter-13-after-recently-being-discharged-in-chapter-7&p=494687#post494687

Hang in there *hugs*

Pandora, thank you for a link to that thread. I was actually posting in that thread but forgot to check up on the updates. I am hoping the 13 I filed will buy me enough time to get a loan mod to go through with the mortgage company. I am guessing my odds are really low that they will even do the mod with me, but you never know. I did get 2 loan mods in with them pre-bk (and I was unemployed during these loan mods). So maybe they will do another loan mod with me again.

The mortgage company did call me to see if I wanted to do a loan mod and I said yes and will be sending my forms to them soon. I would be happy to continue making reduced payments to them on a loan mod program so I can stay in my house longer. Eventually I will land a job and then can either move to a new place or perhaps continue on a loan mod program in this place. I doubt I will end up being able to stay here, but you never know if it will happen or for how long it will happen.

[Pandora]

You're welcome . I think your mortgage company actually did a forbearance for you - not an actual loan modification (read your other post re: raising by $500 each time), certainly sounds like a forbearance. Be careful about paying the mortg. company any monies at all (i.e., partial payments) - they can "promise" you everything if you "only make XX payment this month" and...in the end, you're just throwing money away that could be used on a rental.

I think the bigger issue you're going to have is that in order to do the 13, you have to have steady income as well as you must be able to pay arrears and the current mortgage payment in order to stay in the house.

*hit the stupid button before I finished typing* :/

Will keep you in my prayers..

[helpme2010]

You're welcome . I think your mortgage company actually did a forbearance for you - not an actual loan modification (read your other post re: raising by $500 each time), certainly sounds like a forbearance. Be careful about paying the mortg. company any monies at all (i.e., partial payments) - they can "promise" you everything if you "only make XX payment this month" and...in the end, you're just throwing money away that could be used on a rental.

I think the bigger issue you're going to have is that in order to do the 13, you have to have steady income as well as you must be able to pay arrears and the current mortgage payment in order to stay in the house.

Your correct, it was a forebearance agreement. 6 months, but it all came under a loan modification package that had a ton of pages to fill out. I originally thought this would lead to a permanent loan modification, but instead it only lead to temporary loan modifications that kept increasing by $500 with each 6 month extension.

I know the 13 is just buying me a little time to stay in the house a little while longer and I am hoping the loan mod might buy me a little more time until they foreclose on me and evict me. That extra time is valuable as I need those extra months to find a job. Once I get a job, everything becomes so much easier, including walking away from the house and renting another place, or even staying in this house on a temporary forebearance plan for another 6 months (or possibly longer). Your advice is good as I may just be throwing away money to them and getting kicked out eventually anyways. I am happy with paying them a monthly payment if I can stay in the house longer, if it will do just that, keep me in the house longer.