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Loan Mod and Ch 7

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    #1

    Loan Mod and Ch 7

    I have been trying to get my mortgage modified with U.S. Bank since April. Every two weeks I call and they say call back in 2 weeks, its being reviewed. Originally my lawyer had suggested we wait for this to be completed however that was 2 months ago and I can not wait any longer due to several judgements.

    Does anybody have any experiance with a Loan Mod after or during bankruptcy? is this going to ruin my chances of getting it modified? any help is appreciated.
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    #2
    Our daughter went through the same thing you have been going through with another lender for months.
    They kept making excuses and saying they did not have all the details from the White House and many other things.
    Finally they offered to forgive past penalties if she came current on her loan and would reduce her $1600 principal and interest payment about $100. In her case this was no help.
    Was the program applied properly? I don't know and neither does my daughter.
    It almost appears that the lenders don't want any part of this program.

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      #3
      They wont work with you in you have filed CH7. You have to have the mod done first and then file. I was getting nowhere with my bank and I contacted the CEO about it and 2 days later the loan workout dept was calling me with news. One problem with the loan mod is that they puy you on a 3 month trial period and that delays your CH7 filing too. Ask your attorney if she can get something done about the judgements. When did you stop paying on the stuff you are getting sued for?

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        #4
        Unfortunatly I have no choice. I have to file NOW. I stopped paying on everything in Feb 2007.

        I spoke with U.S. Bank and according to them it will NOT stop my modification process it will just be moved over to the bankruptcy dept. Hopefully this all works out. Wish me luck!

        Comment

          #5
          Originally posted by 123ABC View Post
          Unfortunatly I have no choice. I have to file NOW. I stopped paying on everything in Feb 2007.

          I spoke with U.S. Bank and according to them it will NOT stop my modification process it will just be moved over to the bankruptcy dept. Hopefully this all works out. Wish me luck!

          ((((((((Sending Good Luck Your Way!))))))))

          Luci

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