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    #1

    Advice Needed...Please

    Long story short...we filed yesterday. We have a 1st and 2nd mortgage (HELOC) that is due to adjust in 2 years. Our attorney said it's best to speak with our lender, Wachovia, now. She said they may be more willing to work out a loan modification now on the 2nd with the economy the way it is rather than two years from now when it adjusts.

    My concern is, now that we have filed bankruptcy, will the lender work with us at all on a loan modification? We are current on both mortgages. Or will they just turn us away because we have filed?


    Filed: Chapter 7 - 3/24/09
    341 Meeting - Scheduled 5/15/09
    Chapter 7
    Petition Filed: 3/24/09
    341 Meeting: 5/15/09
    DISCHARGED!!!! 7/20/09
    Tags: None
    #2
    They may not talk to you until after your discharge. But it's definitely worth a try.
    The loan is going to be discharged and they may want you to reaffirm the loan if you modify it. I would not reaffirm that loan.
    Chapter 7 07/30/2008
    341 09/17/2008
    Discharge 11/21/2008

    Comment

      #3
      What will happen if I reaffirm the 1st and not the 2nd? Can I even do that?
      Chapter 7
      Petition Filed: 3/24/09
      341 Meeting: 5/15/09
      DISCHARGED!!!! 7/20/09

      Comment

        #4
        yes you can. are you planning on staying in the home for the rest of your life?
        It's not likely the second will foreclose if you stop paying it.
        I would not reaff either keep your options open.
        Chapter 7 07/30/2008
        341 09/17/2008
        Discharge 11/21/2008

        Comment

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