Posted: Sun May 17, 2009 10:03 pm Post subject: Would Chase accept me back?
I am 8 months behind on my mortgage due to business failure & multiple sclerosis. Requested a loan modification, recently filed a chapter 7 (4/21/09) but need a chapter 13 due to second mortgage.
(can't afford to pay lump sum)
If you want to convert Chapter 7 into Chapter 13, you need to speak to your bankruptcy attorney and take the necessary steps. As you have already filed for bankruptcy, the lender will stop working on your loan modification request for now. Once your Chapter 13 bankruptcy is discharged, the lender would give you a new payment plan and you will have to pay off the debts according to the new plan. _________________ Procrastination is the enemy of your financial sucess
Posted: Mon May 18, 2009 1:56 am Post subject: Would Chase accept me back?
My attorney advised me that if my lender will approve the loan modification he would convert it to a Chapter 13. I did not tell you, my home is in foreclosure now & no sale date at this time.
Have you already filed bankruptcy? If not, then you can definitely apply for a loan modification with your lender. But if you have already filed bankruptcy, then getting a loan modification will be difficult for you. The lender may not accept your request.
Posted: Tue May 19, 2009 11:49 pm Post subject: Would Chase accept me back?
I filed the loan modification, then the bankruptcy. I phoned Chase and they told me that I needed to pay $8,000. I told them that I do not have the money. No other info was provided to me. I now have a Negotiator & will attempt to speak with her tomorrow. She is in Chases' Bankruptcy Dept. I will keep you informed.
Posted: Sun Jun 28, 2009 12:12 am Post subject: Would Chase accept me back?
My Chapter 7 was discharged 6/23/2009. Bankruptcy attorney told me that I could apply for a Chapter 13 in 4 years. Loan modification group & Chase negociator have not responded. I will call them on Monday. What happens to the second mortgage?
As you have not reaffirmed the loan, you're not personally liable to pay the mortgage dues. But the second mortgage lender still holds a lien on the property and can go ahead and foreclose the property. _________________ Procrastination is the enemy of your financial sucess
Posted: Wed Jul 01, 2009 10:11 pm Post subject: Would Chase accept me back?
I want to keep my home. Is it too late to reaffirm. The 1st is $365,000 & the 2nd is $84,000 with the home valued @ $199,500 (no equity). My negotiator request me to call her 7/7/09.
It will depend upon Chase whether or not they would reaffirm your mortgage. You should contact your negotiator and see whether or not the lender negotiates and reaffirms the mortgage for you. If the lender reaffirms the mortgage, you would become personally liable for the mortgage dues but you would be able to save the property.
Thanks
seascape Guest
Posted: Fri Jul 03, 2009 5:46 pm Post subject: Would Chase accept me back?
My Chase negotiator called 6/30/09 (another dept is now working on the case) & she asked me to call her back on 7/7/09 @ 1:45pm.
In my opinion, you should call the Chase negotiator on the given date and check out whether or not they are ready to negotiate with you. If Chase negotiates with you and gives you a payment plan, then you would be able to save the property. _________________ Procrastination is the enemy of your financial sucess
seascape72
. Hope to hear from you soon.
