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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 18831
Experience:  B.A.; M.B.A.; J.D.
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If I file can the judge help me to keep my condo by requiring

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If I file can the judge help me to keep my condo by requiring the invester to finally allow my loan to be modified with the government program I qualified for?

Thank you for giving me the opportunity to assist you. I encourage you to ask me for clarification, if you are not clear with my Answer.

 

Could you explain a little more?

 

What is your situation?

 

How much money do you make a month?

 

How much is your monthly mortgage payment?

 

How much is your house worth?

 

How much do you owe on your house?

Customer: replied 6 years ago.
I owe $229,000 my condo is worth $130,000 or less.I applied for the government program to reduce my payments and monthly payments however when american home mortgage services chacked the invester refused to allow a loan modification. I take home about $2800 a month my budget is more than I make I'm usually short $100-300 a month. I've had multiple issues causing me to get behind and I don't make enough to catch up.my payment is over $1700 plus $600 hoa dues.

 

Thank you for the additional information.

 

Your question:

 

If I file can the judge help me to keep my condo by requiring the invester to finally allow my loan to be modified with the government program I qualified for?

 

Response: Unfortunately, the Judge cannot force your lender to do a loan modification for you if the lender has determined that you can no longer afford the loan. Even if you were to file Chapter 13 Bankruptcy, the Chapter 13 trustee may have problem with your case because you do not appear to have disposable income to fund your Chapter 13 plan. Your plan would be found to be not feasible (you cannot afford the plan) that the trustee would recommend that the Judge not confirm your plan. The lender would then ask for permission of the bankruptcy Court to proceed with the foreclosure. I am sorry for the bad news. However, with the information that you have provided, I do not see how you can keep this house.

 

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