Loan Modification denied.

[vaytee]

our loan modification for chase was denied because was are in an active 13bk. The rep told me that we would have to dismiss our bk in order to get the ball running for a loan mod....why didn't they tell us this in the beginning before sending them all the paper work...they have been working on this for a month!!! they knew we were in 13bk! I need some help I don't know what to do? Should we dismiss and try ...or continue to pay the ungodly payment amount!!! Help please...has anyone dismissed bk and got a modification?

[Moe Bedard]

What you have in a bankruptcy is called an automatic stay placed on all creditors by the courts. They would be in violation of court order if they violated that. You need to speak with your attorney and get the courts permission to negotiate on the mortgage.

Either the stay needs to be lifted or a letter from the courts. Your lawyer should know this.

[diana0806]

Hey vatee, i was in the same boat as you. I waited 5 months to be turned down for mod. Because i needed a relief of stay from my chapter 13. I even asked them if i did and they told me no court approval was needed. They do not know there a.... From there elbows. You must have your attorney get a relief of stay in bk court. He will know what to do when you tell your lawyer your situation. I have been at this for 20 months. You have to fight them and keep calling or you will be lost in the world of chases black hole. So talk to your lawyer and he or she will advise you. My story is very rare but it proves to keep fighting. I will win because i fight for my family. You will too!!!!! We will prevail!!!!!!!!!!

[learning patience]

WITH YOU ON THIS!

We were smack dab in the middle of Chp 7 and received notice that Chase was requesting a "relief from automatic stay", which our attorneys said was so they could continue foreclosure proceedings and/ or continue modification negotiations.....but in order for them to talk to us (rather than the attorneys) this "stay" needed to be lifted ......the trick for us was that we filed bk to try to save our house, and the atty's wrote it up in our paperwork very specifically so that if Wamu/Chase did not work with us on the modification, we could walk away from home & have it included in the BK. My understanding is that Chp 13 is much different than Chp 7, so ? Definitely check with your attorney on that! (my thread is the "18 months of waiting and still more questions" one)

Now that we have been discharged, and suddenly approved for the MHA plan, oh wait!....this gets tricky...

MHA approved only after re-applying on July 13th... since being bk discharged in May (because our original mod. application submitted in March was "cancelled due to insufficient income" on July 6th ) received our Trial mod agreement packet on July 17th..... chaos sound familiar? It happened this fast because when the woman told me our other options to foreclosure, I told her "we included the house in our bankruptcy, and won't have to do any of those, if a modification agreement can't be made." When she found out that we were discharged in May, and have just been waiting to find out if Wamu/Chase would work with us on it, she "red-flagged" us and said that if we wanted to reapply, the process would go much more quickly this time. So we went from 13 months to 5 months to 4 days. Go figure.?

Now we're scurrying to find out if the terminology used in the trial mod packet re-affirms our terms w/ the 2007 mortgage or not. We have a week to get our 1st trial payment in w/ the signed docs, but will only do so if we are agreeing to a "new" trial period, not re-committing to our previous situation.

*pant* *pant*

out of breath, tired of the run around, ready to just move forward, and feel your pain!!!!

but my suggestion?

PERSIST!