Home Loan Modification

[mylife]

Is it possible to obtain a loan mod while just starting a 13? We received one about a year ago and can now apply for another one. The previous one was crappy and I'm just wondering if having done the 13 would help or hurt before I start on this long journey again.

Thanks

[lrprn]

Only one way to find out - first check with your attorney. If he/she says go for it and then the trustee also gives his/her blessing (after filing your trustee legally controls your secured assets), give it a try. Good luck! (Although I wouldn't be holding my breath even if your lawyer and trustee say ok.)

Also keep in mind that any extra dollars you may gain after the second modification may be viewed by your trustee as new disposable income. It's possible that your trustee may petition the court to add the new savings to your monthly payment and distribute it out to your creditors. This would leave you with little benefit to doing the second modification at this time unless your legitimate expenses have increased a comparable amount since filing.

[mylife]

Thanks lrprn. You said some things I had not considered.