My husband and I were discharged from chapter 7 in August. We had not made a house payment on our first or our Heloc since January, which was being made through our Chapter 13. We converted to a 7 due to me losing my job. We did not hear from
GMAC until right before our discharge, and we applied for loan modification. To make a long story short, immediately after discharge we started getting NOD, and foreclosure sale notice. We panicked and found a program through this website for another program, and was immediately assigned a counselor to work with. We sent in all the info for modification, and was approved for the trial payments. We will be making our
3rd and last payment November 1, at which time we understand they will consider us for permanent mod. We have made all 3 payments on time, and the best news is, I just recently started a new job. Not making as much money as previous job, but much better than unemployment. During this time we have not made any payments on our HeLOC with BOA which has an outstanding balance of 58,000. We would like to try and settle this for pennies on the dollar, but only if we are approved for our modification on the 1st. We are hoping to hear from them soon after sending this final payment. Does anyone have any similar situations as this, or know what our chances fo settling will be? Even though I am back at work, I am not making the salary I had before, and not really able to pay the monthly payment of around 300 dollar plus all of the past due payments. Any help appreciated, Thanks!
GMAC until right before our discharge, and we applied for loan modification. To make a long story short, immediately after discharge we started getting NOD, and foreclosure sale notice. We panicked and found a program through this website for another program, and was immediately assigned a counselor to work with. We sent in all the info for modification, and was approved for the trial payments. We will be making our
3rd and last payment November 1, at which time we understand they will consider us for permanent mod. We have made all 3 payments on time, and the best news is, I just recently started a new job. Not making as much money as previous job, but much better than unemployment. During this time we have not made any payments on our HeLOC with BOA which has an outstanding balance of 58,000. We would like to try and settle this for pennies on the dollar, but only if we are approved for our modification on the 1st. We are hoping to hear from them soon after sending this final payment. Does anyone have any similar situations as this, or know what our chances fo settling will be? Even though I am back at work, I am not making the salary I had before, and not really able to pay the monthly payment of around 300 dollar plus all of the past due payments. Any help appreciated, Thanks!