Expert: Terry Leeders - 9/26/2008

Question
I filed a chapter 7 that was discharge in DEC. 07 Since then I did a loan modification with the the intent to refinance this month. The lender now says I can't because there is not enough equity. The modification added thousands to my loan and a higher rate. Can I modify my chapter 7 to include the home so it will not be a foreclosure?

Answer
You cannot go back into the old case to change your intentions.
2 issues, if you signed a reaffirmation agreement, then you are responsible for the payments.  If you modified the loan after the case, then you will be responsible for the payments.
If you did neither, then you can walk away.