Loan Modification

[bsbdam]

My wife and I have mortgage together. But my wife filed for chapter 7 BK. Her debts were discharged and her mortgage obligation were ended. Now I am the only one who is making the mortgage payments. Then I applied for loan modification without including my wife's income because after her bankruptcy her mortgage obligation was discharged. But the bank told I have to include my wife with me on loan modification because she is living with me in the house. Is this True? The bank is the Wells Fargo. Please respond ASAP. Thank you.

[Evan Bedard]

My wife and I have mortgage together. But my wife filed for chapter 7 BK. Her debts were discharged and her mortgage obligation were ended. Now I am the only one who is making the mortgage payments. Then I applied for loan modification without including my wife's income because after her bankruptcy her mortgage obligation was discharged. But the bank told I have to include my wife with me on loan modification because she is living with me in the house. Is this True? The bank is the Wells Fargo. Please respond ASAP. Thank you.

Welcome and thanks for joining LoanSafe.

When a mortgage is discharged through bankruptcy that means you are not technically liable for the mortgage if the home does go into foreclosure. But if you are applying for a loan modification and your wife lives in the home and contributes to the household expenses, yes you will need to include here finances as well.. Even when a spouse is not on the mortgage the servicer will want to see their finances when requesting a loan modification..

[bsbdam]

Thank you for your respond.

[Evan Bedard]

No problem, I hope that helped. Please feel free to join in on other discussions and browse the forums as most members here are just like yourself pursuing some type of loan workout..