Surrendering A home in Chapter 13

[debcon703]

Have an Question
I am in a active chapter 13 case for 3 years now and surrendered a car that was in the plan payments and have had no problems with the Fin. Co and am thinking about now surrendering the home at this point and want to get some info before I contact my lawer to see if this is even possible any Help would be nice
Thanks

[debcon703]

More info

My home is included in the plan payments at this time the Fin co. has put us on a Escrow account and now the payments went from 588.00 to over 800.00 a month. We aslso have a ajustable APR and goes up every year over 11% at this time I am going to be contacting my Atty. but was looking for some info from the forum to see if any one has done this kind of plan Mod and what the out come was

thanks again

[Billssuck]

I modified my plan last May to surrender my home after my husband lost his job (and Escrow kept going up too). We paid our Attorney $400 to modify the plan and basically he just redid our income/expenses with renting vs the mortgage. Everything was just a good estimate and since we had the loss in income, our plan payment to the ch13 Trustee didn't change at all. The modification was approved by our trustee within a couple of months of submitting the modfication and I am still sitting in the house waiting on foreclosure to start. Basically we have been living here rent free waiting on the bank to take action but they haven't even had the automatic stay lifted yet (first step). I'm expecting something any day...Hope this helped.

[debcon703]

Hey thanks for the info going to get with the Atty. sometime next week wish me luck

[justbroke]

I wish you luck. It shouldn't be an issue so long as your attorney does it correctly! That is, to propose the modification and work with the Trustee to make sure they are in agreement. Then file a motion to modify confirmed plan. Always good to have Trustee on board.

[Billssuck]

My modification was really easy and approved with no problems.