just had my 341

[ronsetoe]

I have been a lurker on the site for many months and I have absorbed sooo much great information. So here is my short story about the 341.

In the meeting the trustee asked my wife and I our names and swore us in. He then asked about 3 more questions and said " I am abandoning my interest's in your assets. Thank you and good bye."

So does this mean we get to keep our house? We owe $235,000 and it is worth around 216,000. We were able to get a modification a year ago where they lowered the interest to 2% over 40 years and the payments have been on time ever since the modification.

The 341 lasted all of 2 minutes and I can't believe I lost so much sleep over it!

Outside in the hall my attorney said "You are done and have a good rest of your life."

So now do just wait for the 60 days or should I be looking for a surprise?

TIA

[magua2]

What are the three other questions that he asked?

[ronsetoe]

1. Are these your signatures? 2. Did you list all of your debts? 3. Have you listed all of your assets? Boom! That was it

[disconapper]

Congrats and welcome to the 60 day club!

[frogger]

So now do just wait for the 60 days or should I be looking for a surprise?

Hurry up and wait.........

[InOverHead]

Congrats...and 2% over 40 years! Sounds like you should be in good shape for a long time.

Happy the 341 was painless. I would be elated!

[btbeme]

The next 60 days will seem more like 600, but it sounds like you are home free. Congrats!

FYI - double-check your loan mod paperwork. Sounds like a HAMP modification at that interest rate, and if so the rate is temporary (3-5 years) before creeping up to a capped rate (usually around 4.5%, which is still awesome).

[BROKEDED]

I agree with btbeme...check your paperwork carefully. Hard to imagine they would lock you in at 2% for the entire 40.

[IamOld]

wow congratulations!!!!!!!!!!!!!!!!!!!!!!

[ronsetoe]

it is 2% for 10 years then increases to 3% for ten then it maxes at 4%. I still have not heard anything from my lawyer or the trustee so I guess I get to keep my home. Like I said the trustee said in the 341 " I am abandoning my interest's in your assets. Thank you and good bye."

I guess he can't get much out of a 91 Camry with 342,000 and a 2000 corolla with 197,000

[btbeme]

I guess he can't get much out of a 91 Camry with 342,000 and a 2000 corolla with 197,000

I'll give you $500 for the pair.

[AngelinaCat]

Congratulations on you successful 341! Welcome to the Forum!

[2manybills]

Congratulations on an easy 341! Welcome to the 60 day club!

[notforsale]

Congratulations! This forum has truly being awesome for us! Our 341 is 9/6/11! I am not worried because of people sharing information like you have today! We are keeping our house, our mod last year was 40yrs fixed at 3.87%, so your mod was really good! I am happy with mine, it took 18 mths to get the mod but oh well! Good luck!