Modification after chapter 7 discharge

[Clyde]

I filed chapter 7 . It was discharged last August ,but the case has not closed yet.My modification of my first mortgage was approved by the mortgage company last August, but they will not complete it until the case is closed.My Wife and I are both listed on the mortgage,only I filed Bankruptcy.Will I have to reaffirm my mortgage if the modification goes through?I really do not want to get back on the hook, the property is underwater 60,000

Thanks for any Info
CLC

[mtbc]

I don't know how modifications are typically written but it may be that you can get back on the hook with a modification even without reaffirming in bankruptcy. I'd watch out for that. Perhaps others can advise.

[dspii]

Have your attorney look over the loan mod. I think mtbc hit it right on the head. I believe some loan modifications can rewrite all the terms of the mortgage, meaning if you ever get foreclosed on, your stuck with the difference between the balance due and the amount the mortgage company gets when they sell the house. If your case is discharged, your off the hook for the loan and any difference if you were to walk away. Since your $60k underwater, you may want to reconsider a loan mod unless they are reducing the principle by $60k.