Thanks Trixie!
Hi Trixie, I just want to thank you for explaining to me how Libor rates work. I have read so much on this topic and felt I understood it, but you made it clear to me how my mortgage payment will be affected.
One other thing, I tried to do a modification with my loan company (Countrywide) and they said no-can-do.
So my only option is to have my bankruptcy attorney change the monthly payment in my plan and see if they object. If it goes through, then I'm going to be ok.
I wonder if they accept the new payment - would they then make me sign a new loan modification plan?
The least I want is a loan mod. that is lower than what I am paying just for the life of my bankruptcy plan 60 months. At least I will have better cash flow.
Wish me luck!
Hi Trixie, I just want to thank you for explaining to me how Libor rates work. I have read so much on this topic and felt I understood it, but you made it clear to me how my mortgage payment will be affected.
One other thing, I tried to do a modification with my loan company (Countrywide) and they said no-can-do.
So my only option is to have my bankruptcy attorney change the monthly payment in my plan and see if they object. If it goes through, then I'm going to be ok.
I wonder if they accept the new payment - would they then make me sign a new loan modification plan?
The least I want is a loan mod. that is lower than what I am paying just for the life of my bankruptcy plan 60 months. At least I will have better cash flow.
Wish me luck!
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