My question involves bankruptcy in the state of: UT
I filed a Chapter 7 bankruptcy (BK), which has been discharged (includes 1st & 2nd mortgage). I have subsequently negotiated a loan modification (MOD) with Chase bank on their loan mod program, NOT the HAMP program. These are my questions as they relate to this matter.
1. If I make payments during the loan MOD trial period, am I reaffirming the mortgage debt?
2. If I make payments AFTER the permanent loan modification, am I reaffirming the mortgage debt?
3. Can the 2nd mortgage lender foreclose even though it was included in the BK?
3a. If the answer to question #3 is "yes," is there a statute of limitations? If so, how long is it?
3b. If the answer to question #3 is "yes," can the 2nd mortgage lender prevent me from selling the house and/or seize any proceeds, if I sell the house for a profit?
4. If I decide to walk and not accept either the trial payments or the permanent loan mod how long will it take to foreclose?
(*note: The foreclosure process was not started and no NOD was ever issued. I'm looking for more of an approximate timeline, as I know this is somewhat of a moving target depending on several variables.)
I have successfully re-established good credit since my BK. I don't want to have a fresh foreclosure on my credit, if for example, I make the trial payments, then the lender changes to deal or gives terms on the loan mod that are not acceptable to me. If I have reaffirmed the debt, now in addition to a Chapter 7 showing on credit, I'll have a foreclosure showing and I'll have to start all over again on my credit. I hope that makes sense. Thanks in advance!

