Join the 9 million people who found a smarter way to get Expert help

Recent Loan Modification questions

I am currently starting a chapter 13.I sat through the

I am currently starting a chapter 13.I sat through the creditors meeting last month.I have started making paymentsure to the trustee.My home is not included in the chapter 13 as I am current.Since I did not pay my motgage for 2 years they offered me a loan modification which I am current.I am now 45 days late on my mortgage.Wells Fargo told me that they can motion to relief if I did not pay at once.My question is,what are the chances that they can foreclose on my home if I am 60 days late?

Read more

DrakeLAW

Juris Doctorate

622 satisfied customers
List of facts & in need of resolution 1. dissolution

list of facts & in need of resolution1. dissolution petition filed last year2.spouse filed chptr 13 in the middle of divorce-stopping it- in late 20153. in bk court for 9 months- with no payments being made by spouse4. finally dismissed-but now all property in jeoparday- spouse being very difficutl-attempted to get him to sign loan modification he said no5. stay lifted-however-judge put divorce case on hold until 1-176. i was forced to file chptr 13- 2 weeks ago to save houses, vehicles, etc.7. however since spouse has 1 vehicle that is in his name only- and my daughter drives the car-for college- and he didnt pay on it during that 9 months- it was in his bk- however before this "bad faith Bk13"car payments were in good standing- now approx. 12k in the rears-8. since car in his name-i was told cant put it in my chapter 13-is this true?- if so what can we or I do?-since spouse is the one who has me under duress?9. please dont say go to family court the divorce judge is cluless- can a motion be made with bk court- letting the bk judge know that i was forced into bk13-by spouse- while going through divorce-and how the vehicle in question needs to be put in my bk13-10. final question for you is can i put the vehicle on-since i did inform the bk court that spouse is a codebeor? and how do i get the information that the reason why i am in the bk13 court is because of spouse's fiduciary misconduct?

Read more

TJ, Esq.

Juris Doctor (JD)

10,834 satisfied customers
I spoke to you about our Mortgage before with a bankruptcy.

Hello I spoke to you about our Mortgage before with a bankruptcy. Now I would like to know, we had a Modification done at the same time because we were days away from loosing the house. In that Modification they added all of the interest in that we would have paid over the time of the orig. loan. We did not realize it at the time because we were so frazzled. The Attorney put the papers in front of us and said that they got it for us and we were so relieved not to loose our house. So my question is there any way to recuperate any of the money the Seterus took advantage of us for or not? Don't they have laws now. We had tried to work with them prior to the Attorney getting it for us with Chase but even after taking everything up to DC for them and faxing paperwork to them Chase would not do it and sent it to Seterus. Aren't there laws in place about these companies who take advantage of people just because they are desperate. Thank you

Read more

Terry L.

Partner

Doctoral Degree

2,866 satisfied customers
Story short, in 2010 my wife and I were granted a Chapter 7

Long story short, in 2010 my wife and I were granted a Chapter 7 and released from all our debt including the mortgage on the house where we live now, both my Wife and I are on the original 2004 First Residential Mortgage Fannie Mae loan It was then sold to Bank of America. In 2012 I (not my wife) modified the loan through Bank of America under HAMP, once again I am the only one that signed any of the paperwork from Bank of America for the HAMP agreement. As soon as I signed the agreement the mortgage was sold to Green Tree who serviced it up until September of 2015 at which time the Mortgage was sold to Ditech. All correspondence from both have been as debt collectors.In September of 2015 I quit making payments and Ditech is now foreclosing on the property and a decision will be made in the courts this month; neither Ditech nor the lawyer representing them will be at the hearing but I am considering going.Question - Ditech and their lawyer list both my wife and I as owing the same amount, yet my wife never signed the HAMP loan modification in 2012 and she was released from all debt in 2010. Is this legal?

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

107,984 satisfied customers
We are in the 3rd year of 5 year chapter 13 on our home.

We are in the 3rd year of 5 year chapter 13 on our home. The goal was to stay in our home, have the 2nd mortgage forgiven and either sell or continue in the home after the plan finished depending on our situation. We were paying an adjusted monthly amount + payment to trustee that was based on estimated loan Mod through the HAMP program. 2 yrs back our loan mod was denied by the lender but we continued, per advice of our attorney, to pay the adjusted payment amount according to the plan (without fail for the next 2 yrs). Just last Friday the lender notified us we were in default of loan agreement for $38,000. This was the sum delta from the actual monthly payment per our original note with the lender and the adjusted plan payment and that we had 10 days to pay to avoid foreclosure. Prior to entering chapter 13 plan, we had already been in default for $115,000. It is likely that even after we pay this $38,000 that the bank will also ask for the pre-petition default amount to also be paid to avoid foreclosure (which we can't do).We are paying our cars separate from this payment plan so the home is the only thing effected. The concern is if the home is now foreclosed on that the 2nd loan will essentially come back and become a personal debt no longer secured by the home. We are devastated to lose our home of 17 yrs and really want to know what our options are at this point. Is there anything short of paying the $115k + $38k in a balloon payment to stay in our home? The attorney we have has never been on top of the details from the beginning and we only did as we were advised (perhaps we should have been more diligent ourselves). Our remaining mortgage balance is $502,000 and even with the defaulted amount owed still has some equity (which is why I'm sure the bank has decided to foreclose).1. How can we stop foreclose?I realize this is a a lot to ask via this type of service, we need help.Thx

Read more

5,238 satisfied customers
I would like to file an adversary proceeding against my

I would like to file an adversary proceeding against my creditor in my chapter 13 proceeding for validation of debt I am representing my self. I received a loan modification and was issued a 1099-C for cancellation of debt. In my case, they are claiming I still owe the complete debt. They are attempting to get my case dismissed

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

107,984 satisfied customers
This question is in regards ***** ***** chapter 13 case that is

This question is in regards ***** ***** chapter 13 case that is almost due for discharge (one month away). Debtor has a primary mortgage and a HELOC. Primary mortgage payment was part of the plan and is current. HELOC is NOT current and after discharge, there will be a foreclosure filed on her house due to the HELOC default. Debtor is looking for advice on the best strategy.Debtor has a parcel of land that she can sell after the discharge that would pay off the HELOC in full, but simply needs some time for the sale to go through (maybe a couple of months, post discharge). What strategies can be employed here?My thoughts -- please let me know if any of these work, AND please provide your suggestions:(a) Try to negotiate with the creditor? Can the bk department be contacted to see if we can work something out? How likely is this?(b) Maybe file some type of motion that would delay the discharge 30 days Rule 4004(c)(2) -- is this a possibility?(c) Anything else?Thanks for your help.

Read more

TJ, Esq.

Juris Doctor (JD)

10,834 satisfied customers
I am in Chpt 13 BK. Submitted a loan modification to

I am in Chpt 13 BK. Submitted a loan modification to wells.fargo.today. what happens to the bk

Read more

Phillips Esq.

Attorney

Juris Doctor

18,312 satisfied customers
Wells Fargo has attempted to foreclose on our home while we

Wells Fargo has attempted to foreclose on our home while we were in Chapter 13 bankruptcy. They did this because our bankruptcy attorney failed to file a motion to seek court approval of a loan modification. We weren't notified of this until 3 months after our case was discharged.During the 5 year bankruptcy, Wells Fargo claimed they notified us of the deficiency by regular mail instead of certified mail. We never received any mail from them, nor phone calls or e-mails during the entire bankruptcy while they collected monthly payments from us.Now, after the case has been discharged successfully, we want to sue them for violation of the automatic stay and discharge injunction. They forced us into a new loan modification which cost us about $100,000.00 more than the previous loan modification, all because they failed to use Certified or Registered Mail.Our question to you is this: Does not using certified or registered mail seem like a weak defense to you to justify a potential foreclosure? It sure does to us. We as plaintiffs plan to challenge them on that issue mainly. That they lacked authority to foreclose because they never notified us properly.In bankruptcy and foreclosure proceedings regulations as of 2010, the lack of communications are a major part of arguments for court sanctions against lenders.

Read more

37,942 satisfied customers
View more bankruptcy law questions
In The News