Posted on: 11th Jan, 2010 09:37 pm
i filed for chapter 7 bankruptcy in sept,after the loss of my spouse/co-borrower on our home loan. will i be eligible for a loan modification under the making home affordable modification program? even after the discharge of my other debts, my mortgage is 90% of my total income. my home , which i currently occupy, is less than $200,000 and was purchased five years ago.
Did you reaffirm your mortgage when you were in Chapter 7 bankruptcy? If yes, then you can apply for a loan modification with your lender. If you have been making regular payments after reaffirming the mortgage, then there's a chance that the lender would approve your loan modification.