Mortgage modification during Chap 7

[psears123]

Hello,

I am in the middle of a business debtor chap 7 proceeding (haven't had Creditor's Meet yet) and I have a rental property that I would like to keep. I can show that it is underwater, so I am hoping that the trustee will let me keep it.
The problem I have is this: it is currently being financed by a 1 year construction loan that is due in June. Although I want to keep it, I am NOT going to reaffirm that loan only to have them tell me in June that my credit is too poor to get a 30 year fixed on it, and be left at their mercy with no way out. I need them to agree to a 30 year loan BEFORE the chap 7 is over.

Should I hire an attorney or a loan modification company to negotiate for me? Or should I try to do it myself?

Thoughts?

[PushRestart]

I would hire the best loan mod negotiator I could because this does not sound like a simple task. I know that lawyers are treated better than most in dealing with banks and I use them in negotiating short sales all the time, so maybe a lawyer who specializes in loan mods could do the deed....? Best wishes with it and I think you are smart to be proactive about this :o)