Need to REFI --any suggestions where?

[sandraspeaks]

Looking for a mortgage refi....we have tried the modifications and they deny us saying we don't have enough money. I laugh at that answer, because if we did have enough money---would we need a mortgage modification?

We filed Chapter 13 --over 2 years ago. We had Saxon Mortgage and they would not work with us, we fell 2 payments behind and they wouldn't let us pay it up. By the time we went to court, we had the money--but foreclosures don't require their lawyers to even come to court (we had to, but they didn't.) Our loan was just sold off to ocwen

Now even though we filed Chapter 13, we are still listed as being in foreclosure...and our payments were not placed to the back of our loan, and are not being repaid with the extra money we are paying in.

If someone knows what I need to do ---we need our monthly payments lowered. Our house now appraises far less than what we got a loan for 3 years ago.

I do not want to lose this house. I've lived in this house for over 30 years (it was my parent's house). It's my home--and I wouldn't want to ever live anywhere else.

How do I get a loan modification? How do I get out of foreclosure? How do I refi?

any help--is greatly appreciated

[Flamingo]

Have you discussed this all with your attorney? You don't mention anything at all about that. The first thing you need to do is contact your attorney and advise him/her exactly what you stated here and what, if anything, can be done as to your situation since you are in active Chapter 13. Best of luck to you...

[sandraspeaks]

talked to attorney --he doesn't care. All he says is --file Chapter 7 and walk away. His business is booming because I'm sure there are 100's of people like me that are having mortgage problems and he's getting paid to file.

He didn't help us in any way. We went into bankruptcy being told that the judge would be able to lower our monthly payments, pull us out of foreclosure and move the missed payments to the end. Since you never get "your day in court" to actually see/talk to the judge ---it's all lies. It's just a paper trail.

Attorney made his money up front. He doesn't care about us losing our house. It's not his family you will be homeless.

We need to find a company to do a refi --or figure out how to get a modification so we can make reasonable payments each month and at a reasonable interest rate. We have a $200,000 loan -make $1800 monthly payments at now 9% interest rates.

[NoTomatoCan]

Sandra - I am sorry to hear about your situation. Sounds like you have a sub-par attorney.

It was a little unclear what you are needing help for. Is the bank actively pursuing foreclosure, or is that just how it is listed on your credit report? Is it just getting those two past due payments straightened out? Those should have been included in your plan as arrears. It might not immediately show up on 13datacenter, but do you have a copy of your plan to look over to make sure they were included?

If you are just looking for a refi or help with your modification I am not sure an attorney can help you much. Unfortunately there is nothing in a CH13 that provides for the ability to modify the loan on your primary home.

Depending on your lender, the mortgage modification process is a joke for most people. And being in an active CH13 it will be very, very difficult to find a company to do a refi for you.

[Flamingo]

When you are in an active chapter 13, you need Trustee permission as to anything that would modify your Plan. That includes refinancing. That is why I asked if you contacted your attorney about all this because if you were actually able to refinance, your attorney wouuld advise you (I believe you are not in a position to do so that is why you received the comment of Chapter 7) because if you were, you would have been asked to obtain refinancing paperwork if you were able to get approved so the attorney could submit it to the Trustee for review and a Motion would be filed to the Court to obtain approval. To me it appears you cannot afford to keep your home or something changed during your Chapter 13 that you cannot continue on and are struggling or that you are having issues as to changing your lifestyle during this point in your Chapter 13 and are finding it hard to make any payments. You need to thoroughly go over this with your attorney. You state there were certain things done as to your Plan as to your missed payments - did you actually review your Plan confirmation paperwork as to what was done with those payments? It appears that all that is included in your Plan and that your Plan payments are paying the missed payments partially back or otherwise to your mortgage company.

Due to your active Chapter 13 and the above, you need to work with your attorney - going outside of your Plan will cause your matter to be dismissed and at this point, that is the worst thing that could happen being two years into your Plan.