Can i get my mortgage modified in bankruptcy?
• A bankruptcy judge will not modify your loan, but it can be used as a tool to help push the lender into modification. • If you have been denied a loan modification because you have too much debt, a bankruptcy may help you qualify. Also, may lenders approach offering modifications when you are in bankruptcy because they fear you will walk away from the house as part of your bankruptcy case. Bankruptcy can be an excellent tool to help you get a loan modification. • In a Chapter 13 case, the court will often strip away a second mortgage, depending on fair market value of your house.
