making home affordable federal program

[cantwait]

I know we will ask our attorney but we haven't gotten our retainer yet to start everything. So, I'm asking the wise posters on this forum. When we conducted our pre-filing counseling, we were told to check into the new government program about refinacing our house. We checked on the web site and think we might qualify to do it. Should we try to do it pre-filing BK, or after we file and are discharged? Has anybody had any experience trying to refinance through the federal program? The web site is makinghomeaffordable.gov. Thanks for any insites.

[hamburgervol]

I think it all depends on who the actual owner of you mortgage is, Fannie Mae, Freddie Mac..etc.etc.. Some of the owners are not honoring the Obama Plan. Many are simply letting people foreclose in order to get the property. During the Great Depression the banks made huge land grabs by seizing properties. The banks essentially became the largest land owners at that time. It remains to be seen if they are doing the same today.

I would assume you would want to do this before filing. It would be great if you could do it after though.

[Martha13]

Hi cantwait... We are just deciding whether or not to jump into this new program ourselves, and I don't have that much info YET, but I can tell you this--we had surrendered our home in the CH7 we filed last year, and it was discharged last October. That didn't matter one single bit to our lender (EMC..now Chase I think?). They are fully aware of the bk (obviously) and that wasn't a factor. Good luck to you!