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  1. #1
    Join Date
    Sep 2016
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    13,916

    Default Offer of a Home Loan Modification after Bankruptcy Discharge

    I filed for bankruptcy and discharged my mortgage, although I continue to live in the home. I have been contacted by my lender about a possible home loan modification. How does that work, if I've already discharged the debt? They also want me to start making payments for a trial period before they'll approve the modification.

  2. #2
    Join Date
    Sep 2005
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    Posts
    98,846

    Default Re: Offer of a Home Loan Modification after Bankruptcy Discharge

    Whatever they're calling it, it sounds like what you would end up with if you proceed with the "modification" is the refinancing of your property, with the substitution of a new mortgage note for the one discharged in bankruptcy. While it may be that if you don't proceed, the bank will start proceedings to take possession of the property, you need to determine if you want to again obligate yourself on a home mortgage for the home.

    You should discuss the details of your situation with your bankruptcy lawyer, to confirm what is actually happening and to discuss your options.

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