Can you modify a home loan that was included in bankruptcy?

You know what, if you find the IPS address of this person making a positive comment, you will find that it goes back to Marc Tow 's IP address.

I am on social security and have not paid on my 2nd for 6 months and chase has sent a letter of intent to foreclose. I am current on my first. I owe 187k on first and 54k on the second. My home was valued at 165k by zillow.com, however the same house down the street just sold for $95K Can the 2nd foreclose? and doesnt the first have to be onboard. I did not reaffirm the 1st or 2nd. My ch7 discharge was in 2008. can I file a chapter 13 to wipe out the 2nd lien. In California

Your 2nd can foreclose, most likely they will not unless they are in 1st lien position. For example if you got your loans at the same time, whoever filed their lien 1st is in 1st lien position. But if you got your 2nd at a later time, they would be in 2nd lien position. Your first doesnt have to be onboard, they wouldnt care if your 2nd forecloses, as long as the 1st is 1st lien postion. I would contact your 2nd for any modification options they may have. They may or may not be able to modify with the unreaffirmed debt. I'm not sure about CA law, but would you filing a ch 13 really wipe out the 2nd? I thought with a 13 you would still have the debt, and have bankruptcy payments to go toward all of your debt and a bankruptcy trustee to delegate where the payments go.

I too used Marc Tow...we went to him for a loan modoification as well, but ended up filing a chapter 7 bk. He was very direct with my husband and I, he even met with us on a Saturday. We filed a chapter 7 adn got rid of all of our debt, and now the bank is trying to work with us to stay ion our home!

After a Chapter 7 bankruptcy, if you haven't reaffirmed the debts, you're not personally liable for paying off the dues. If you've reaffirmed the loan, then you'll have to make the payments on time to save the property. If you haven't signed the reaffirmation agreement, then you can surrender the property to the lender who can foreclose it in order to recover his dues.