2nd mortgage loan mod?

[Over our heads]

Does anyone know, is it possible to get a 2nd mortgage loan mod *after* discharge, w/o re-affing the loan?

Long story short, our 2nd is ridiculous int.% (14.5%), the payment is insane, so we didn't re-af. It is partially secured, and we are upside by about 15-20k depending upon the day

Our first is w/ citi, and the 2nd di-tech. Any and all thoughts are helpful!

[pcn]

What about settling it after you are discharged? That seems to be a common strategy, although somewhat risky.

[LimpDisc]

How much do you owe each mortgage? How much is the house worth?

[OhioFiler]

You won't get a loan mod after BK that you can walk away from at your pleasure. You'll be creating a new debt.

[AngelinaCatHub]

You won't get a loan mod after BK that you can walk away from at your pleasure. You'll be creating a new debt.

Yes, I was about to say the same. It would be a new rewrite and not dischargable anyway for at least 7 (8) years. Might as well reaffirm if they will work with you. 'Hub

[Over our heads]

How much do you owe each mortgage? How much is the house worth?

The first is roughly 158K and the second 94k, according to zillow last night, my house is 215.5k (down quite a bit ><). Hoping that will go up again soon, as houses in the sub are starting to sell fairly quickly (less than 4 months on market).

I don't think settling would be an option, as I'm fairly positive they wouldn't take less than what is secured by the house, in this case 50k+.

[Over our heads]

Yes, I was about to say the same. It would be a new rewrite and not dischargable anyway for at least 7 (8) years. Might as well reaffirm if they will work with you. 'Hub

Forgot to add that lawyer counseled not to re-aff due to the high interest, and thinks that the judge wouldn't allow it either.

And, at this point, re-affing the 2nd is not in our best interest at all, as my hubs was laid off last week. We have pay for the next 8 weeks, and hope that he can get a job and start before that is up. And if he can't we are screwed either way as un-employment won't cover our first, much less both + monthly expenses.

So far my fresh start isn't looking so great.

[ravs]

If you did not re-affirm the loan during your bankruptcy case, you are no longer liable on the unsecured portion. However, the creditor has a right to collect against the secured portion- i.e. to initiate foreclosure proceedings for the home. In order to modify the loan, you would have had to re-affirm the debt. It may be possible to do so even though you have received a discharge. Please contact our office to discuss this further.