Hi Everyone,
My mortgage is with Litton, we dont' qualify for Hamp. They currently say they are reviewing our loan for an inhouse modification. I am in a chapter 13 bankrutpcy, and I'm converting to a chapter 7. I don't want to lose the house. My parents have agreed to catch up my contractually delinquent payments (not my negative escrow), prior to converting to a chapter 7. I believe this will keep me out of the risk of foreclosure. We are looking at converting by the end of the month. Should I hold off as long as I can before sending the money in to become contractually current, or should I just tell them I no longer want to be considered for the mod. I have a high interest rate, 7.125%, so it'd be great to get it reduced, but I really have no faith in Litton helping anyways from waht I've read. What should I do?
My mortgage is with Litton, we dont' qualify for Hamp. They currently say they are reviewing our loan for an inhouse modification. I am in a chapter 13 bankrutpcy, and I'm converting to a chapter 7. I don't want to lose the house. My parents have agreed to catch up my contractually delinquent payments (not my negative escrow), prior to converting to a chapter 7. I believe this will keep me out of the risk of foreclosure. We are looking at converting by the end of the month. Should I hold off as long as I can before sending the money in to become contractually current, or should I just tell them I no longer want to be considered for the mod. I have a high interest rate, 7.125%, so it'd be great to get it reduced, but I really have no faith in Litton helping anyways from waht I've read. What should I do?