Loan Modification Forum - LoanSafe.org - View Single Post

pbharris4 · 06-12-2009, 08:24 AM

Yep..we have an atty. I put an email in to him. I go on the bkforums as well and someone explained it to me over there. They say it's illegal to do a modification after a BK discharge. After you include the mortgage in your BK you basically do not have a contract with the bank because you included it so they can't modify then. UNLESS you reaffirm it first. The person came up with a good point...why would we keep a house that has negative equity of $100k? But if Chase/Wamu gives up a nice mod. with lowered payments...to make it more affordable and a fixed rate..we'd do it..probably.

06-12-2009, 08:24 AM	#68 (permalink)
pbharris4 Senior Member Join Date: May 2009 Posts: 108 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WaMu/Chase Mod Moving Forward Yep..we have an atty. I put an email in to him. I go on the bkforums as well and someone explained it to me over there. They say it's illegal to do a modification after a BK discharge. After you include the mortgage in your BK you basically do not have a contract with the bank because you included it so they can't modify then. UNLESS you reaffirm it first. The person came up with a good point...why would we keep a house that has negative equity of $100k? But if Chase/Wamu gives up a nice mod. with lowered payments...to make it more affordable and a fixed rate..we'd do it..probably.