amibankrupt

we hired someone to complete our loan mod papers yesterday; they filled out what looked like a packet from HAMP and sent them in. how long does it take to get a response and what are the chances of actually getting this mod? we just paid augusts mortgage last week. therefore, have not paid septembers and will not be paying octobers as per the loan mod 'guy.' if we net (not take-home) 14,000 a month and our bills are 11,500 and our actual take home is 10,000, then we should qualify, correct? is there anything else I'm missing as far as understanding this correctly? he told me to just stop paying my mortgage but continue paying the 2nd. we have decided to claim BK but then the lawyer told me to try and get a loan mod before hand. I'm assuming bc my debt-to-income ratio will be higher, hence the better chance of getting it. the mortgage company is IndyMac. ETA - zillow states my house is worth around 295 and we owe 360 on the first mortgage thru indymac and 40 on the 2nd through a local credit union

I'd be happy to help with the knowledge I have (I work for IndyMac)... will indymac do a loan mod through a chapter 13?

my lawyer said he would eliminate my homeowner loan (which acts like a 2nd mortgage) in the amount of 38,000 and in the process try and get me a loan mod on my first mortgage 380,000. the home on pillow states the house is worth around 270,000. what are the chances OWB will do a loan mod or that my lawyer will be successful in getting us one?

we will be filing for chapter 13 within the next couple of months. we want to have a loan mod on our first mortgage through OWB. i read the stipulations under the OWB and we do not qualify bc we make 'too much' money a month. however, with all of our other loans, we can not afford anything anymore. will my BK attorney get me a wipe-out on my 2nd mortgage and a loan mod or is a load mod something i should start working on now BEFORE i file. i am thinking of not making my next few payments and see if they will work with us. we are currently 'current' on our payments. the house is worth about 50,000 less than we owe on it.

Does anyone know how the law protects the landlord if they want back into their home they are currently renting in ny?

yes chapter 13. we would like to keep the house but do a loan mod since the house is underwater im wondering if anyone would know if indymac would do this

we are thinking of keeping our house but would really like a loan mod with indymac. they said we did not qualify because we didn't show enough financial hardship. we were not late on payments but since we are doing a BK - we thought maybe we could try and keep the house; we will be begin to be late on mortgage payments and then maybe they will modify the loan. any truth to any of this? advice? thanks!

we want to do a chapter 7 and sign our home over, etc. we have too much other debt that is too difficult to pay-back and we want to foreclose on the home but move on as quickly as possible. i didn't know how indymac was as far as the foreclosure process was.

we are meeting with a bankruptcy lawyer tomorrow. we are in over our heads, etc and need to get out of our house because we can't afford it or our bills. if i stop paying my mortgage, how long before i can get rid of my house (do a deed in lieu) and move on so i can foreclose and start the timer to buy a new home 3 years from that time period? hope that makes sense! BTW - i am in NY

i currently have an FHA mortgage and am only in the beginning stages of meeting with my bankruptcy attorney, etc. we want to file chapter 7 and sign our house over to the bank (deed in lieu). we reside in NY and our current mortgage is with OWB. i read conflicting things online, etc. and with discussions with various people stating different things. if i want to purchase a new home ASAP, when is the earliest this can happen and will saving a substantial down payment help?