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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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i have a mortage inwhich i have gotten behind in . the back

Customer Question

i have a mortage inwhich i have gotten behind in . the back amount is 90000 that is past due .i have filed a chapter 13 last year. i got sick in 2004 in which i have to go three times a week for dialyis for my kidneys. i have been trying to get help from my mortage company wells fargo the total mortage amount is about 250000 that is owed to the bank.the house is up for foreclosure is there any thing we can do to save our home . and can it seem possible to get the payments lowered
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 5 years ago.

cortrightlaw :

I am sorry to hear about your situation, by the comments in your question is would appear that even though you are in a chapter 13 bankruptcy you have again fallen behind on your post petition mortgage payments. Unfortunately when this happens and the lender moves for relief from the automatic stay there is little that can be done by the bankruptcy court. The Chapter 13 protection only prevents the sale of the home if you stay current on your chapter 13 payments and your payments on the first mortgage. Otherwise the lender will move for relief from stay and it is usually granted, after that they can foreclose on the home.

cortrightlaw :

It also appears that you have already explored the modification process, and again unfortunately there is nothing that forces the lender to modify their loan with you, it is a voluntary process and if they do not want to modify or they do not think your qualify for a modification you are most likely going to lose the home.

cortrightlaw :

At the same time while I understand your desire to keep your home, if you are upside down and can not afford the payments then it is most likely in your best interest to move to a more affordable living situation, especially due to your health issues.

cortrightlaw :

It might be time to consider converting your chapter 13 to a chapter 7 so you can start over with your credit and eliminate the chapter 13 payment.

cortrightlaw :

I wish you well, and if you have found my answer to be helpful then please press the accept button so I can get credit for my response.