signing trial mod

[goingcrzy]

I received a half page letter to set up my trial mod asking for my signature. Basically it lists the trial payments for the next three months, then a balloon payment for the difference in the fourth month.

We are discharged from our Chap 7 and did not reaffirm the mortgage. I am afraid to sign this - will I be on the hook for the balloon payment? Or is the debt still considered discharged?

[Meatstick]

If you didn't reaffirm and are discharged than you are under no legal obligation to pay the mortgage company anything. I would tell them to go pound sand unless your trying to stay in the house. If you don't sign and the mortgage goes delinquent they will probably just forclose anyways.



Meatstick

[goingcrzy]

Thanks Meatstick-

I guess I should have mentioned we are trying to save the house. BUT I am willing to walk away if I don't get a mod.

I know its a shot in the dark, but I don't want to sign anything that will come back to bite me later.

[lrprn]

I received a half page letter to set up my trial mod asking for my signature.

Did you request a loan modification from your lender? Or is this offer coming out of the blue?

[goingcrzy]

I requested it. (at the hub's request)

[lrprn]

I requested it. (at the hub's request)

Can you make the proposed payments without risking yourselves financially? If the answer is yes and you requested the modification, what's holding you back?

[goingcrzy]

We can make the payments. My issue is if we get denied I am not planning on making the balloon payment.

I don't want to sign anything that can lead to a back door reaffirmation (as Just Broke calls it)

There is no fine print on the letter at all. I just want to make sure I am not doing something stupid by signing it.

Thanks for all the help!!!

[Lajazz947]

We can make the payments. My issue is if we get denied I am not planning on making the balloon payment.

I don't want to sign anything that can lead to a back door reaffirmation (as Just Broke calls it)

There is no fine print on the letter at all. I just want to make sure I am not doing something stupid by signing it.

Thanks for all the help!!!

Probably an obvious answer but why not ask your ( or an ) attorney.

If you filed pro se then the cost of an attorney for a review is well worth it considering the risk you take if you dont make an informed decision.