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Loan Modifications and Chapter 7
My experience is that it depends on the bank. So I have my clients ask
their banker. Wells Fargo wanted the client to wait until the loan mod
papers were signed. Another client continued to work with the loan mod
division at Wells Fargo, after filing the WF Bankruptcy office filed a
Motion for relief because they have a policy of not communicating with
active bankruptcy cases. It turned out that the two WF office had no
procedure to coordinate.
Larry Webb
State Bar of California 229344
Central District California
"A Debt Relief Agency"
Larry@webbklaw. com
Law Offices of Larry Webb
Camarillo Ca 93010
P 805.987.1400
F 805.987.2866
C 805.750.2150
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We may have had a thread on this before so I apologize if I'm
duplicating, but how are you all advising your clients who ask the
following question:
"I have a loan modification in process (with a federal gov't program, or
otherwise). Will filing a Chapter 7 case affect the ongoing
modification and will filing the Chapter 7 alter my ability to obtain a
modification after a case is filed?"
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at http://bklaw.com/bankruptcy-blog/2008/0 ... efinition/)
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