CH 13 Post Petition filing/Amend & "cram down" of HELOC & Car note

[igetit]

We are 1.5 yrs into our CH 13 filing and would like to know if we can Amend Petition to "Cram Down" on 2nd mtg & 2007 GMC truck that is falling apart?

If not Amend when is it prudent to have our case dismissed and refile?

[biotechsolution]

you might be able to strip a 2nd mortgage but you can't cram down a primary mortgage. you could cram down the truck if it was over 920 days when you started your chapter 13.

[momofthree]

Since you filed in 2008 and the truck is a 2007, I don't think you could have possibly owned it for over 2.5 years at the time of filing, which means it can't be crammed down.

You may be able to strip the 2nd mortgage IF you owed more on the first mortgage than the value of the home at the time of filing, and therefore the 2nd was wholly unsecured, again, at the time of filing.