07-20-2012 02:20 AM
Ok of course we go to file bankruptcy after 3 years of attempting to get a modification with BOA and low and behold what happens? BOA calls me at 630 on Wednesday evening stating they "sent trial mod papers"! It lowers our payments and puts our payments in the back of the loan but it still doesn't help on our vehicles and our other debts. Is it still possible to file 13 even if we do not have any further arearages on our first mortgage? Our second mortgage is only a payment behind and we can have them defer it if need be and on top of my car I can't seem to get it paid down with Santander as my loan holder.
07-20-2012 12:37 PM
When I filed 13 in 2007 I had never missed a payment on my mortgage. The 13 was converted to a 7 and discharged in 2009 and I still had never missed a payment on my mortagage. I have always made sure the first thing I paid was my mortgage because we never wanted to be in a situation where we lost our house. Im no expert but I would think you can still file 13.
07-20-2012 08:49 PM
You dont say what State you are in. In Michigan a BK whips out a second mortgage, and can clean out a first mortgage. If you can get current, they cannot take the house.
Most Home Mods tack the deliquent amount on the back end of the loan. It is no big savings but it does get you current.
BK7 was the best thing for me.
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