Modification cancelled,Received a notice to accelerate from Bank of America

[wildcats21]

We were in a chapter 13 when we was approved for our modification in june of 2010, this happened through Naca.We went to a notary signed the docs sent them back thought everything was fine until May of 2011 when I received a email form BOA stating my mod was cancelled due to non compliance of court approval. We sent the approval letter from our attorney stating he gave approval for naca and BOA to work with us in modifying our mortgage, our attorney said that neither he or the courts received any request for any further approval. Naca is working with us on this but they keep denying us due to the fact our chapter 13 is discharged and now we have the extra income from not having the chapter 13 payments, they say we can afford our mortgage payment and wont give us another modification. Our problem now is we don't have enough money to pay what we was behind when we did the original mod in 2010. They said we have until the 7th of sept to bring our payments up to date or they will start foreclosure proceedings they say we owe around 12K. Naca says they approved the original mod and cannot cancel it like they did. They sent boa an email friday August 12th. Can someone give me some advice on what we should do or who we should contact in order to keep our house. Thank You

[despritfreya]

Don't know the ins and outs of the modification process but, since you have completed your 13 and are discharged you could file another 13. You would cure the $12k over 5 years while making the regular monthly payment. You won't get a discharge but you probably don't need one anyway.

Des.

[wildcats21]

My attorney told us we could not file another 13 for I believe 4 years.

[justbroke]

You can ABSOLUTELY file another Chapter 13 immediately! As Des pointed out... you just can't get a discharge. Since you'd be curing arrears only, and have no other debt... the Chapter 13 should "only" be your $12K in arrears over 36-60 months. That would mean a monthly payment of $200 over 60 months or $333 a month.

[despritfreya]

Darn, JB beat me to it. I was going to say. . .

"Then your attorney told you wrong. You can file a 2nd 13 (lovingly called a Chapter 26). You won't get a discharge but you get all of the other benefits like. . . forcing a 3 to 5 year repayment plan on the lender for the arrears."

Des.

[justbroke]

Sorry Des, but you beat me at initially responding to the thread! Always nice to have you around!