Loan Modification Denied

[digg0659]

My husband and I divorced in November 2011. The divorce decree states that he was to stay in the house, pay all mortgage payments and upkeep of the home. The home is in my name only but we bought the home during the marriage. I moved out last October and rented a home. Well he told me 1 week ago that he was moving and has moved into his mom's empty home to pay her mortgage. I have had to file a Chapter 13 since he was 2 months behind on the mortgage but now I'm presented with either trying to rent the property, let the bank foreclose or try another modification with Chase. I can't move back into the property because I just signed a new lease. I'm afraid to let Chase know no one is in the property because I've heard horror stories of them changing locks, properties being vandalized, etc. My bankruptcy attorney said I should try to speak with Chase about modifying the loan again. He said they may be willing to work with me now that I've filed Chapter 13. Incidentally, my ex husband definitely violated our divorce decree but unfortunately I can't afford another attorney to file contempt charges against him. Any advice on how I should handle this one?

[Evan Bedard]

I can't move back into the property because I just signed a new lease. I'm afraid to let Chase know no one is in the property because I've heard horror stories of them changing locks, properties being vandalized, etc. My bankruptcy attorney said I should try to speak with Chase about modifying the loan again. He said they may be willing to work with me now that I've filed Chapter 13. Incidentally, my ex husband definitely violated our divorce decree but unfortunately I can't afford another attorney to file contempt charges against him. Any advice on how I should handle this one?

I'm very sorry to hear what has happened, that is unfortunate he left the home abandoned and it is solely under your name. You can most definitely try to apply for a loan modification and you may even want to consider renting the property out at least temporarily until you can move back into the home. This is of course only if you can achieve a loan mod and bring the account current. If you do achieve a modification keep in mind that you will then have to begin making payments on the property once the mod is finalized and this may be difficult to manage if your lease has yet to expire.