Mortgage limits

[littlemuffin]

I am planning to file a Chapter 13 to keep my house.

I have a positive DMI but it is about 200.

Can my bankruptcy be denied if the trustee thinks my house payment (2560) is too high?

I have tried to sell the house for a year with no luck at all.

Thank you for any help.
LM

[TexasEx]

I don't think the trustee can deny your bankruptcy. Ultimately the judge is the one that makes the call. Depending on your situation (amount of debt, income, etc) the trustee could say that you are filing in bad faith and recommend you not be approved however as long as your DMI covers all your priority debts you should be confirmed (although this varies from trustee to trustee as some will not even consider a 0% payback to unsecured and will fight you to the end).

You mention you tried to sell, are you upside down on the house? Is it worth just surrendering in the 13 and going to a rental? Can you afford the house and still make ends meet with your other expenses?

My house payment is $2465 and my DMI came out to be around $480. Not too much more than yours, however the DMI is what it is and I got approved without any hassle.

[littlemuffin]

I live in WV and thankfully, home values have only lost about 8 - 10%. I have a little equity in the house but my homestead exemption will more than cover it.

I can easily pay the house payment and other expenses for now. In three years when I lose child support for my son, we'll see.

Thanks for the info.