Loan Modification Forum - LoanSafe.org - View Single Post

needingsomehelp · 04-03-2008, 06:38 PM

HI... I know that someone here can answer more questions than I can, but I wanted to let you know that once you file bankruptcy, all "workout" programs with Countrywide will be stopped. By law, Countrywide can not modify a loan while you are in Chapter 13 bankruptcy.

We actually found that out the hard way. We are currently in Chapter 13, which we entered to save our home, yet now Countrywide can't work with us, and our rate just went up!!

So I can't give you advice, but you should talk to your lawyer, he or she, should be aware of this!! Good luck with everything!!

04-03-2008, 06:38 PM	#2 (permalink)
needingsomehelp Member Join Date: Mar 2008 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Modification or Bankruptcy? HI... I know that someone here can answer more questions than I can, but I wanted to let you know that once you file bankruptcy, all "workout" programs with Countrywide will be stopped. By law, Countrywide can not modify a loan while you are in Chapter 13 bankruptcy. We actually found that out the hard way. We are currently in Chapter 13, which we entered to save our home, yet now Countrywide can't work with us, and our rate just went up!! So I can't give you advice, but you should talk to your lawyer, he or she, should be aware of this!! Good luck with everything!!