Well, we're definitely filing bankruptcy in our near future. That decision has been made. As of right now, we're current on everything, but the house payment is due tomorrow, and I've decided we're not making it this month - really can't with taxes that are due today. 
We've gone back and forth on whether to keep the house when we file or let it go too - and we still can't come to a final decision that we're comfortable with. So, we're going to at least TRY for a modification. If approved, it would bring the house payment down initially over $1000 a month. That we can handle, and then hopefully I will have obtained a job in the next year when the amount starts creeping back up that we can do this. If I get the job I'll be trying for, we can actually make the current payment amount when all our other debts are discharged in bankruptcy. I just can't walk away from it without at least trying. Even the attorney has said not to get my hopes up on the modification, but at least, like I said, I tried. Anyone out there with any positive stories with modifications. Our mortgage is through Chase. I do have a friend who successfully got a modification approved about 3 months ago. She said the trial period for them ended up lasting 5 months while they were working on it but it was approved with no issues. As far as I'm concerned, they can take as long as they want deciding -- if it's declined, we're immediately filing for bankruptcy and letting it foreclose. Any thoughts?
We've gone back and forth on whether to keep the house when we file or let it go too - and we still can't come to a final decision that we're comfortable with. So, we're going to at least TRY for a modification. If approved, it would bring the house payment down initially over $1000 a month. That we can handle, and then hopefully I will have obtained a job in the next year when the amount starts creeping back up that we can do this. If I get the job I'll be trying for, we can actually make the current payment amount when all our other debts are discharged in bankruptcy. I just can't walk away from it without at least trying. Even the attorney has said not to get my hopes up on the modification, but at least, like I said, I tried. Anyone out there with any positive stories with modifications. Our mortgage is through Chase. I do have a friend who successfully got a modification approved about 3 months ago. She said the trial period for them ended up lasting 5 months while they were working on it but it was approved with no issues. As far as I'm concerned, they can take as long as they want deciding -- if it's declined, we're immediately filing for bankruptcy and letting it foreclose. Any thoughts?
12/14/10 - Filed Chapter 7, 02/09/11 - 341 Hearing, 04/14/11 - 
Comment