Anyone do the Making Home Affordable program?

[badkarma]

Hi everyone!
We are making payments to the lawyer for a Ch.7 hopefully to file in OCT/NOV 2009. wanting to keep cars ( 1 pd for , 1 making paymts)/ house/rental
We are current yet past on our mortage with Huntington ( Mortage is due the 1st of month we make payment sometime during the 21st to 30th of the month)
Huntington sent us forms to fill out for their Making Home Affordable program through Freddie Mac.....
Has anyone done this with success? We owe about 130's... fair market is about $135- 145's says realtor

They also ask : Have you filed for bankruptcy? Y or N
If Yes what Ch 7 or 13 Filing Date:
Do we answer no since we haven't filed yet?

Say we get accepted for this mortage mod trail period is 4 months of paying on time does that mean we shouldn't file in Oct/Nov then? wait till afterwards
when trail is over?
Is it even worth trying for a mod since we can afford our paymts now without paying on the c. cards, but mod would be great,lo


People say they feel relief from retaining a lawyer while they wait to file, why is it I feel so stressed out and so guilty about not paying credit cards
wish we filed BK two years ago Yes our heads are spinning, starting to get sick from the ride....

[Minnymouth]

If you intent is keeping you home when you file BK, then it might be in your best interest to file for the modification program (hold up your filing BK) and put the modification program in place and then after its setup and running smoothly - file BK on everything else that you intended too.
This option will give you a lower house payment to start out fresh.
As to the question "have you filed BK"? No you haven't........ not until the papers are filed at the courthouse.
You could continue to retain your attorney as planned, just put it on hold for approx 6 months. The credit card companies won't do anything about it.
Continue making your payments on your vehicles or anything else you plan on keeping.
Good Luck

[2Bshinyandnew]

Another possible benefit to going with the MHA modification pre- BK and waiting for the final modification to become permanent before filing is reaffirmation.

If you wait until after BK to apply for a mod or apply during BK proceedings, the modification will most likely work as a reaffirmation of the mortgage. If you complete the MHA modification and then file for BK, you may also have the opportunity to ride through the modified mortgage (depending on your lender and their policy on reaffirmation) and if your circumstances change and you decide you don't/can't keep the house even with the modified mortgage you will still have the option to walk away without worrying about a deficiency. Since you may have equity in the near future (lets hope!!!) this wouldn't be as important for your situation as someone who is underwater. Just something to think about.