Posted on: 10th Mar, 2010 09:01 pm
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.
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.
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
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
I am in a BK 13. Wife is not. I only have 6 months left.
Thanks for the info.
Thanks for the info.
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.
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.