[HELPMEPLEASE]

I am in a desprate situation here. I filed chapter 13 bankruptcy in 2006 and now due to my rising mortgage payment my weekly check deduction is going to go up to the point that I will have literally $2 left after taxes/week. I have made all my payments on time since the bankruptcy was confirmed, and now the trustee is asking for a dismissal because of the infeasablitly of the plan... I have seen articles about a bill that was introduced in the U.S. Senate, and passed in the House that would allow for modification of loans during chapter 13, did this ever get passed? What are my options at this point?

[admin]

we have been successful get loans modified while in bankruptcy. There is a consent form required in many instances but that is not a problem.

[HELPMEPLEASE]

The letter requesting relief was dated Dec. 10th (11th on one page) and said I have to respond within 15 days (not sure if it was business days or not), I have been trying all sorts of options in the mean time. Is there something that I can do to delay the dismissal while I work on a loan modification?
What do I need to do to persue the loan modification with you?

[admin]

you have a better chance of getting the loan modification once out of bankruptcy, you will not need the consent form. You just have to move faster.

[HELPMEPLEASE]

I have read that on many different websites. The question I keep asking myself though is 'what if I let it get dismissed and then don't get the modification?' I have read nothing but horror stories on the internet about the Countrywide Hope department, and I don't want to put all my faith into something that may not work and then it be too late to stay in my house.

I just typed up a response to the dismissal papers, hoping that it won't get dismissed and something can be worked out.

I do not want a dismissed Bankruptcy on my record, nor do I want a foreclosure.

[admin]

can you afford the property or at least close to being able to afford? What type of loan program do you have? When did you make your last payment?

[HELPMEPLEASE]

I can afford to make payments, I generally work overtime every week. I have made every one of my weekly bankruptcy payments since the plan began in June of '06. The interest rate on my interest only loan went from 7.29% to 10.29% and I cannot afford the new payment plus the amount needed to pay back the amount that I was behind before the bankruptcy.

due to the fact that I don't have internet access at my house (can't afford) I can't check for responses to this until Tuesday and obviously need help before I do have access to that from my cell phone.

[LVrealestateHELP]

You can also look into Lien Stripping. That is when they remove the second mortgage entirely through BK.

[rainelli]

you can look for a better loan modification company to help you through this.

[meggy]

I agree - I'd look into a loan mod company. If you can show that you can afford to make payments if they rework your loan you will have a shot.