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I recently made my last chapter 13 payment to the trustees…

I recently made my last...
I recently made my last chapter 13 payment to the trustees office. I fell behind on my mortgage and have been in a trial modification. On the notice of final cure my lender stated the amount I was delinquent but also stated we were in a trial mod and when completed we would be offered a permanent modification at which time our account would be contractual and current. The trustees office today has submitted a motion to dismiss our case because the mortgage payments are delinquent. I also just received documents today from our mortgage company offering us a permanent modification. Is there anything I can do to keep the chapter 13 from being dismissed and receive a discharge?
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Answered in 52 minutes by:
12/29/2016
socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39,889
Experience: Attorney and Real Estate Broker -- Retired
Verified

Hello,

Your options to avoid a dismissal:

1. Bring the mortgage current;

2. File a motion to modify your plan to eliminate or reduce the required mortgage payments -- so that you would be in full compliance with the new Chapter 13 plan;

3. Convert your case to Chapter 7. This may not be an option, if your income is too great;

4. Request a Chapter 13 "hardship discharge." This is practically the same thing as a Chapter 7 conversion, by a different name. In this or the conversion case, the trustee can only liquidate nonexempt assets other than your income, and the result may be little different than a Chapter 13 discharge, given that you've already paid your entire plan.

Those are the options.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, I receive nothing for my efforts in your behalf.

Thanks again for using Justanswer!

socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39,889
Experience: Attorney and Real Estate Broker -- Retired
Verified
socrateaser and 87 other Bankruptcy Law Specialists are ready to help you
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Customer reply replied 1 year ago
Would the mortgage be considered current with the modification agreement that we just accepted with the mortgage company.

That's an interesting notion. You should enroll in law school. I'd have to review your bankruptcy plan and conduct a fair amount of case law research to try to craft a legal argument. Frankly, I don't know if that would be worth the cost, because you could use that money to bring the loan current.

If you're interested in having me "get into the weeds," let me know and I'll send you a premium services offer (n.b.: customary hourly legal services fees will apply). If not, then I understand entirely.

Happy New Years!

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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39,889
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Experience: Attorney and Real Estate Broker -- Retired

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