Should I modify my 13? Need feedback.

[espo1357]

Not going to use actual numbers, but I am considering a modification of the 13 that I am in, and expect to get confirmed next month.

1. Original plan for the 13 was 5 years, and 100 percent payback to the arrears on the first mortgage.

2. After my BK, the loan on my first mortgage was modified, and the arrears was put back into the loan. So, there are no arrears on the first mortage right now.

My questions:

So, should I try to get a modification of the 13, now that there is no arrears on the first mortgage?

Or just stick with the current plan that is going to get discharged in five years?

What happens to the money if I stay in the current plan, now that I do not have arrears? Who gets the money if I stay in the plan? Does that money go towards the first mortgage anyway?

Lastly, is the modification even worth it in this situation?

Thanks so much for any feedback.

[StartingOver08]

Just a bit of clarification: was the only debt you had was arreage on your home? You were able to add the arreage to the loan balance in your modification so no you have no debt? Or does your Ch 13 have other debt?

[espo1357]

Just a bit of clarification: was the only debt you had was arreage on your home? You were able to add the arreage to the loan balance in your modification so no you have no debt? Or does your Ch 13 have other debt?

there was other debt (cc debt more than arrears that was covered in the 13) and second mortgage (going to be stripped in the 13).

thanks!