BK Filing effects and HAMP Program

[snapple candy]

There is a new posting/guidleines on efanniemae.com that you all might want to go see if it applies to you. For those of you whom are considering BK and wondering how it might affect modification here is what I found:

Frequently Asked Questions – Servicing Guide Announcement 09-05R: Home Affordable Modification

As of August 10, 2009

Q13.
If the borrower files for bankruptcy protection during the Trial Period, is the Trial Period Plan canceled automatically or is a servicer required to continue to work with the borrower?
Borrowers who file bankruptcy during the trial period, but who make all of the required payments in a timely fashion and are otherwise in compliance with the Trial Period Plan remain eligible for a modification provided all of the representations in section 1 of the trial plan remain true. The servicer and its bankruptcy counsel must work with the borrower and the borrower's bankruptcy counsel to obtain any required court approvals of the modification. A borrower actively involved in a bankruptcy proceeding prior to being placed in the HAMP is eligible for the HAMP at the Servicer’s discretion. If a servicer provides an offer under the HAMP to a borrower that is involved in an active bankruptcy case, the servicer must work with the borrower or borrower’s counsel to obtain all necessary approvals from the bankruptcy court.