emc mortgage,bankruptcy,and trial pmts

[donnac]

I am currently in a chapter 13 bankruptcy. Has anyone been offered the 3 months trial payments in bankruptcy and how long from the time you submitted your paperwork until the time they offered you the trial. I just called emc for an update everything was submitted to them on August 1st of course I was told it will take 90 days but the lady also said they are giving everyone a three month trial while they work on the mod. Anyone with info I would really appreciate it.

[Evan Bedard]

Hi donnac,

I am currently in a chapter 13 bankruptcy. Has anyone been offered the 3 months trial payments in bankruptcy and how long from the time you submitted your paperwork until the time they offered you the trial. I just called emc for an update everything was submitted to them on August 1st of course I was told it will take 90 days but the lady also said they are giving everyone a three month trial while they work on the mod. Anyone with info I would really appreciate it.

Wow she said that they are automatically giving everyone the trial payments.. No wonder why we are not seeing any permanent modifications after the trial period is complete..

If you are currently in BK most lenders will require a letter from your BK attorney stating they will allow your loan to be modified at this time. Also as far as time frame thats about right, typically 45-120 days to get a decision..

[Blackcandt]

I can tell you that I was in a Chapt 13 and converted to a Chapt 7. They basically told me the same thing that they were giving everyone the 3 month trial while they work to see if you qualify for a permenant modification. Now since we are getting close to our discharge date they are giving us not the MHA program but a "Chase" mod. 3% for the next 5 years. I can tell you first hand that they will have to get permission from the court to give you a modification and also plan on the Chapter 13 payment to go up because they see it as you have more income for other creditors now. At least that was what we experienced. Good Luck..

[donnac]

Thanks everyone!! My attorney already sent in the form to EMC and all my paperwork has been submitted. I was told everything is in review. I can't see how they can't help me since i am at a 13% interest rate on a 30year mort. When I got the mortgage in 2002 they never told me I couldn't refinance for three years. What a nightmare.

[Smurf]

They send my papers to my lawyer.


Mortgage Loan Modification :: Care2 Groups (Other)

[Smurf]

Hi donnac,



Wow she said that they are automatically giving everyone the trial payments.. No wonder why we are not seeing any permanent modifications after the trial period is complete..

If you are currently in BK most lenders will require a letter from your BK attorney stating they will allow your loan to be modified at this time. Also as far as time frame thats about right, typically 45-120 days to get a decision..

They told me the same thing about the 3 months but what I don't understand is it 3 months with the mortgage payment we have now or they give you a new payment to pay.We gave our papers to them in June it now 4 month and noting been don't. They only call asking for the same information over and over.and last friday when I spoke to the guy that told me you know you have 3 month trail told me it going to take 120 Day because we wanted our tax escrow in