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    #1

    Amended Confirmation Plan

    Hello,

    I read today on PACER that I have an amended plan...it says I pay $275 per month for months 1-3(I will pay month 3 in Sept), then months 4-36 $1417...this increase is to take into account my application for HAMP, my mortgage as stated in the form, goes from $1460 to $1014...

    I know I have not been approved for HAMP only applied for the program, but I will be paying the "new" mortgage payment starting in October.

    My questiona are:

    As I start paying this amount, how long does it take to get approved or denied? I am with Citimotgage...

    Is there an appeal process?

    If denied, what happens to the extra 1000 + dollars I am paying into the plan?

    Thanks
    Marlene

    Filed: 06-23-10
    341: 07-27-10
    Confirmation: 09-16-10
    Discharge date: 10-25-10
    Tags: None
    #2
    I'm confused

    You are doing 13? I thought 13's aren't discharged until the end of the payments.
    "I DECLARE BANKRUPTCY!" Ch 7 Filed 7/15/11 * 3 Minute 341 8/19/11 * Discharged 10/20/11

    Comment

      #3
      yes, I am doing 13...sorry for the confusion.....

      The 10-25-10 is the date I have on my paperwork, I thought it stated "discharge date"....

      Thanks

      Comment

        #4
        Predictions on HAMP results are futile I'm afraid.

        If your plan payment is increased due to an anticipated reduction in mortgage payment - the opposite would happen if your mortgage payment goes up again. (Plan payment would go down.)
        Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
        (In the 'planning' stage, to file ch. 13 if/when we have to.)

        Comment

          #5
          So if I am denied my loan modification in the end , the extra 1000+ I am paying the BK trustee in anticipation of an approval from Citimortgage, where does the money go? Towards my pay off of the Ch 13?

          Thanks

          Comment

            #6
            In short yes, if the money paid in can pay off all unsecured creditors as indicated in your plan and all secured and priority creditors are paid your chapter 13 can end early with the extra payments. Be careful the trustee does not realize your close to completing your plan early and file for a modified plan to keep you in longer. If you can pay your plan off before the term, once the plan is paid your case is over and its too late for anyone to complain. Good Luck.
            Originally posted by freeme0215 View Post
            So if I am denied my loan modification in the end , the extra 1000+ I am paying the BK trustee in anticipation of an approval from Citimortgage, where does the money go? Towards my pay off of the Ch 13?

            Thanks

            Comment

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