Advice plz...

[ready2file]

Any and all comments are appreciated!

So I FINALLY get my paperwork from CHASE about my loan mod. It states that this is a trial and after 3 months they'll consider a permenent loan mod. It states that the trial period does not bring my account current and they reserve the right to determine the final amounts of the unpaid interest and any other delinquent amounts to added to the balance to determine a new payment amount. It futher states that in the event I file a petition in bankruptcy they may elect to take any and all actions necessary, including voiding the agreement or filing for relief from automatic stay and a bunch of other stuff.

I say all this to ask....should I wait til I get a perm mod to file my chapter 7 and reaffirm then? Or take a risk and file during the trial mod. I have already paid my attorney but not 100 percent please with his level of communication -- it seems I always talk to his paralegal who doesn't seem to know much. This is so frustrating...I really would love to keep my home...that and my car payment will be reaffirmed. I just under the median income amount for MD.

Thanks for reading my long *ss post.

[mtbc]

It wasn't too long. (-:

I can't advise you what to do, but personally I wouldn't trust Chase to make the modification permanent any further than I could throw them. So, waiting may indeed be worth considering.

[momofthree]

Most banks automatically void the trial period and revoke the modification offer if you file bk. I would wait until after your loan mod has either been made permanent, or denied before filing--unless there is another underlying issue that could effect your ability to file if you wait (expecting an increase in pay that would put you over median, etc.)

Have you already checked out the loan mod forums at loansafe.org? They are a great resource for those going thru mortgage modifications.

Good luck!

[ready2file]

Most banks automatically void the trial period and revoke the modification offer if you file bk. I would wait until after your loan mod has either been made permanent, or denied before filing--unless there is another underlying issue that could effect your ability to file if you wait (expecting an increase in pay that would put you over median, etc.)

Have you already checked out the loan mod forums at loansafe.org? They are a great resource for those going thru mortgage modifications.

Good luck!

Nope...headed there now...thanks!

The only thing holding me back is the house...I'm expecting and due in July....my household size would be +1 by then, making the numbers even better!