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kevin1965 · Joined: 10 Mar 2010 Posts: 4 1.00 Dollars($)

I have been trying for a loan mod for approx. 2 years. Was in foreclosure and ready for auction Nov. 2008. Pulled off because of the Home market.

Now Country wide is BAC...

Keep sending in stuff and calling and sending stuff and calling. Called again today and they are starting all over again. Another 45 - 90 days.

I am currently in a Bk 13 that will be ending in 6 months.

I am not sure how to qualify for a modification. Behind about $40k.

In the past year, income has gone up substantial - $115,000 Loan is curretnly 11%

NOT SURE what to do? Do nothing? Keep calling them.

jameshogg · Posted: Fri Mar 12, 2010 12:38 am Post subject:

Hi kevin,

As you are in bankruptcy, the lender will not be ready to modify your loan. You will get a payment plan from your lender to pay off your dues within 3-5 years. You will have to pay off the dues as per that plan. When you get that plan from the lender, you may negotiate with him in order to get an affordable plan to pay off your debts.

Thanks

kevin1965 · Joined: 10 Mar 2010 Posts: 4 1.00 Dollars($)

I am in a BK 13. Wife is not. I only have 6 months left.

Thanks for the info.

adonis · Posted: Fri Mar 12, 2010 10:02 pm Post subject:

Hi kevin,

As James has suggested, you will have to speak to your lender in order to get a new payment plan so that you would be able to pay off your debts in an affordable manner.

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