My current monthly mortgage payment is $1700. This is scheduled to increase to $3000 in three months. If I file for Ch.13 for the 6 payments I am behind, can/will I get protection from the BK court to force my lender to stop all hikes in my current monthly payment? Please help!
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i have an arm-adjustable rate mortgage -it was supposed to go up ,if it did that would mean a increase in the trustee payment.the good thing about the economy my rate hasnt gone up -they review it every 6 months though.i dont think the bk can stop hikes .
If you have an arm mortgage-it might go up -
No. A Chapter 13 Plan cannot modify the rights of a creditor where the creditor's claim is secured by a primary residence. (11 USC 1322)Originally posted by bntactnt View PostChapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
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