Posted on: 07th Sep, 2008 01:05 pm
I have this home with a negative equity and now I owe a lot of credit card debts just to keep up with my mortgage payments. Would Chapter 7 going to affect me if I were to apply for loan modification? I'd rather not do short sale or foreclosure because I do not want to implicate a co-borrower. Pls advice. Thank you.
Hi guest,
Welcome to forums.
Since you're thinking of going for loan modification, I believe you're filing chapter 7 for the sake of the credit card debts that you've piled up. Isn't it so? Loan modification will not be affected by chapter 7 if you don't include the mortgage in the bankruptcy. By the way, did you talk to the lender about the modification?
Thanks
Welcome to forums.
Since you're thinking of going for loan modification, I believe you're filing chapter 7 for the sake of the credit card debts that you've piled up. Isn't it so? Loan modification will not be affected by chapter 7 if you don't include the mortgage in the bankruptcy. By the way, did you talk to the lender about the modification?
Thanks