Would Chase accept me back?

welcome seascape,

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.

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.

Hi seascape,

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.

Thanks

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.

Thank you

Hi seascape,

It's good that you have got a negotiator for yourself. Wish you all the best in your attempt to modify the loan :) . Hope to hear from you soon.

Thanks

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?

Hi seascape

Have you reaffirmed your second mortgage? You can reaffirm your second mortgage and start paying off the dues. This will help you in saving your home.

Thanks.

No I did not reaffirm my second

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.

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.

I requested my loan modification in 11/2008.

Hi seascape,

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

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.

Thank you

Hi seascape,

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.

I can't pay 2nd mortgage. If it is a charge off, how long can creditors bother me?