Countrywide, forcloser, bankruptcy now they modify???

[luv4myboys1]

3 years ago I asked for a modification turned down twice went to bankrupcy been paying on loan for a year. and bankruptcy payment at almost $2500 a month total now the mortage is to go up to 10% and the escrow is suppose to be behind $12000 now my question how come that wasnt in the bankruptcy. It was only confirmed in august and 2 days after it was confirmed countrywide sends me a letter that my escrow is $12000 in rears. Although claimed for the Bankruptcy that I owed the $30,000 uhhh duh. I can add. I had a 80 20 loan and the 20 got dismissed at bankruptcy but now Countrywide offer to Modify at 6% for 30 years with interest only until 2011. I think I would be crazy to turn this down but people are telling me to do it. the $31000 arears which is in Bankruptcy and this is part of the $12000 escrow is included in the Modification which contrywide claims would reduce my Bankruptcy payment of $1100 a month. Anyone have any advice my lawayer is away until tuesday and contracts need to be in by 16 NOV 08. New Mortgage would be $1350 verses what was at $2300 plus Bancruptcy payment of $1100. Sad thing is I only bring home about $4600 a month total income for hubby and I.
HELP!!!!

[Cat Damiano]

Hi luv4myboys1,

Welcome to the forum and thank you for joining..................

The best thing that you can do is go over this with your attorney before signing since the attorney will be back on Tuesday and you can overnight the docs after speaking with them. If you are going to save almost 1k a month on mortgage..........that seems pretty good........imo