Summary of my story: Last mortgage payment made was October. We were discharged from chapter 7 just 2 days ago. Before out discharge, Chase sent a letter to our Trustee and Attorney notifying them that I am behind and they may files a motion for relief of stay. They also requested our permission and my attorneys permission to talk to me regarding my past due balance.
Question #1: Since I am discharged I have nothing to worry about now as far as a motion for relief of stay, right?
Question #2: Can my Trustee "revoke" the discharge since I am not paying mortgage now?
Question #3: Should I sign the form and return it or just forget about the letter?
So, I called the Chase loan modification department today just to inquire about a modification. She directed me to website to print forms and fax in. She said to contact the collections department about my past due amount and ask to be put in forebearance program until a trial modiciation can be set up.
I was already denied 6 months ago for a modification because we made too much $ vs our payment. we haven't lost much income since then, not enough for them to modify now. The gal I talked to today flat out told me they do not reduce principle. So with that in mind, I would not even take a modification if they offered one (since I owe over 300K on a house worth 200k).
Question #4: Should I even attempt a modification since now it would mainly be to "buy time"?
Question #5: She stated that without a forebearance plan, they would continue with foreclosure process even while applying for modification. Should I do a forebearance plan if I plan on walking, just to continue to stall the foreclosure?
Question #6: Should I just sit tight, do nothing (no modification application or forebearance plan) and let the foreclosure take it's course?
Help! What would you do?
As I said in a previous post, I would LOVE to keep my house but without a priciple reduction it would make no sense to stay here. I know I could buy better for cheaper 3-5 years down the road. I know what the end result will be, I will not end up in this house. Basically I am just trying to buy time to save as much as I can.
Question #1: Since I am discharged I have nothing to worry about now as far as a motion for relief of stay, right?
Question #2: Can my Trustee "revoke" the discharge since I am not paying mortgage now?
Question #3: Should I sign the form and return it or just forget about the letter?
So, I called the Chase loan modification department today just to inquire about a modification. She directed me to website to print forms and fax in. She said to contact the collections department about my past due amount and ask to be put in forebearance program until a trial modiciation can be set up.
I was already denied 6 months ago for a modification because we made too much $ vs our payment. we haven't lost much income since then, not enough for them to modify now. The gal I talked to today flat out told me they do not reduce principle. So with that in mind, I would not even take a modification if they offered one (since I owe over 300K on a house worth 200k).
Question #4: Should I even attempt a modification since now it would mainly be to "buy time"?
Question #5: She stated that without a forebearance plan, they would continue with foreclosure process even while applying for modification. Should I do a forebearance plan if I plan on walking, just to continue to stall the foreclosure?
Question #6: Should I just sit tight, do nothing (no modification application or forebearance plan) and let the foreclosure take it's course?
Help! What would you do?
As I said in a previous post, I would LOVE to keep my house but without a priciple reduction it would make no sense to stay here. I know I could buy better for cheaper 3-5 years down the road. I know what the end result will be, I will not end up in this house. Basically I am just trying to buy time to save as much as I can.
