Interesting......NOT!

[packfan1957]

I filed chapter 7 in 2009, have mortgage with Chase(originally WAMU), did not re up the mortgage, per attorney's advise, have not missed a payment, now Chase calls me to offer me this great new deal that I qualify for because I haven't missed or been late on payments, even with bankruptcy I'm good, lower interest rate, a couple of years knocked off loan....... I told the guy are you nuts?????? I'm not on the line for this loan, and your looking for a reason to get me back on the hook? Yeah Chase is trying everything, the freedom I have now is priceless, I can let the house go to foreclosure, live here almost a year or so, and say see ya! Can't tag me again with nonpayment for I've been cleared of the loan, home values keep falling, its just a matter of time!

[Evan Bedard]

I filed chapter 7 in 2009, have mortgage with Chase(originally WAMU), did not re up the mortgage, per attorney's advise, have not missed a payment, now Chase calls me to offer me this great new deal that I qualify for because I haven't missed or been late on payments, even with bankruptcy I'm good, lower interest rate, a couple of years knocked off loan....... I told the guy are you nuts?????? I'm not on the line for this loan, and your looking for a reason to get me back on the hook? Yeah Chase is trying everything, the freedom I have now is priceless, I can let the house go to foreclosure, live here almost a year or so, and say see ya! Can't tag me again with nonpayment for I've been cleared of the loan, home values keep falling, its just a matter of time!

Welcome and thanks for joining the forum.

So your saying Chase offered you a loan modification even though you never applied for one?

[sh9730]

Packfan,

Dont be so quick to dismiss! If they offer you a loan MODIFICATION then you should look at the term they give you....a MODIFICATION of an existing loan does NOT put you back on the hook for the loan. A discharged loan CANNOT be reaffirmed via modification.

Now, if they are asking you to REFINANCE into a new loan, then THAT is something to avoid, unless the terms are sooo good and you are very confident in your ability to make future payments.

But, get the details first...I got a modification on my discharged mortgage and am saving a bunch of money and still have all the safeguards you describe.

[packfan1957]

No never applied for a loan mod, it would be a new loan, at a lower rate, because I fit the new program they have, just feel like its a hook, and I told him so, he hasn't called back! I just feel I'm in a better position without redoing, just thought it was interesting, however, he told me my credit score is 710,not bad after BK! Oh, and no credit check, home appraisal, or anything, just my signature and $550 which he would kindly roll into the loan.

[Evan Bedard]

Sh9730 has sound advice, it is true that a loan modification will not reaffirm your mortgage if you agree to it.. Is the letter you were sent for a refinance, and not a mod?