Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
A debtor can file a motion to modify the plan on grounds of changed financial circumstances. However, the trustee and/or a creditor can object, based upon the prejudice caused by the modification.
The greater the prejudice to the creditors (i.e., the less they receive as the result of your proposed modification), the less likely the court will confirm the modification, and the more likely you may be forced into a hardship discharge (which is the equivalent of a Chapter 7).
This would mean that you would lose the house.
Hope this helps.
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