Payment Requirements and Loan modifications in Chapter 13

[Torra]

I am hoping to file a Chapter 13 bankruptcy due to a drastic reduction in income. I am trying to keep my home. I want to have my second mortgage "go away" because the value of the house has dropped to just below my first mortgage. I am trying to get a loan modification from B of A, this has been going of for close to a year now.
I am hoping to qualify for a Chapter 13 when I receive this loan modification. Can a mortgage company be forced in to court to complete the loan modification process? Also how is the payment to the trustees determined? Is it determined by your disposable income or by a percentage of the debt? I have very little disposable income and a huge debt. I am in Hawaii.

[momofthree]

Your payment plan is determined by your disposable income after your allowed expenses.

At this time the courts cannot force a mortgage co. to modify your mortgage.

[Torra]

Thank you for the information. I know that the courts cannot force a mortgage co. to modify my loan, can they bring them into court in any of the meetings to discuss the modification? I have been trying to get the bank to complete my loan modification for eight months. I need to file b.k. to protect myself from aggressive creditors and the B. of A. is not working with me.

[lrprn]

I know that the courts cannot force a mortgage co. to modify my loan, can they bring them into court in any of the meetings to discuss the modification?

Nope. Not going to happen.

I have been trying to get the bank to complete my loan modification for eight months.

Many have tried even longer without success. There is *nothing* that can be used to force any mortgage lender to modify a mortgage. It's completely voluntary. And as you have discovered, almost no lenders are willing to do it, no matter what they say to string you along.

If you can't afford the house without a modification, then you have some difficult internal discussions to have with yourself (and your spouse if you have one) about whether it makes sense in the long run to keep this house or not.