Met with BK lawyer today. Just received approval for loan modification. However, we didn't qualify for the government program. Our Mortgage Servicer put us in a plan they have. It only lowered our monthly payment by $200 from our original mortgage. The family medical bills have increased due to my daughters and wife's new diagnosis's. We laid out all of our expenses and my monthly income. We are -$228 for the month. My wife doesn't take her medication according to how it's prescribed so that we have money for the kids, food, gas. We almost lost our house because the payment was too much. Now even though we have a modification we are still in the red each month.
We presented this information to our lawyer and of course he directed us to the means test which showed I had a positive DMI because of how much I make. We don't know what to do. The lawyer wants us to provide him with the new medical bills and diagnosis for my wife and kids. He wants as much information as we can provide to bring with him to the hearing with the Trustee. We are hoping to get a modification to our plan so that we can live. We would love to convert to a Chapter 7 however we don't pass the means test. We are stressed out!!!!
If our Lawyer can't get the plan modified I think our only option is to sell our house on a short sale and rent. We have two kids with special needs and the idea of renting will be even more stress. The possibility of having to move frequently will be very disruptive. Our plan has already been modified once. We took in my Father-in-law about a year ago. He's elderly. Because we've already had a modification our Lawyer thinks it will be a stretch for another one, however he's going to try.
We feel like we are in debtor's hell! Every program we look at we don't qualify because of my income. We are 2.5 years into a 5 year plan. We just don't know what to do.
We presented this information to our lawyer and of course he directed us to the means test which showed I had a positive DMI because of how much I make. We don't know what to do. The lawyer wants us to provide him with the new medical bills and diagnosis for my wife and kids. He wants as much information as we can provide to bring with him to the hearing with the Trustee. We are hoping to get a modification to our plan so that we can live. We would love to convert to a Chapter 7 however we don't pass the means test. We are stressed out!!!!
If our Lawyer can't get the plan modified I think our only option is to sell our house on a short sale and rent. We have two kids with special needs and the idea of renting will be even more stress. The possibility of having to move frequently will be very disruptive. Our plan has already been modified once. We took in my Father-in-law about a year ago. He's elderly. Because we've already had a modification our Lawyer thinks it will be a stretch for another one, however he's going to try.We feel like we are in debtor's hell! Every program we look at we don't qualify because of my income. We are 2.5 years into a 5 year plan. We just don't know what to do.
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