Legal Question in Bankruptcy in California

Loan modification

Will the bankruptcy court allow and is it possibleto get a loan modification on a mortgage after your chapter 7 bankruptcy has been discharged?


Asked on 8/28/08, 3:18 am

2 Answers from Attorneys
Brian Whitaker Lifeline Legal, LLP

Re: Loan modification

Yes.

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Answered on 8/28/08, 3:46 am
Robert Mccoy Law Office Of Robert McCoy

Re: Loan modification

This reminds me of the question the patient asked his doctor: "Will I be able to play the violin efter I get hand surgery?" To which the doctor says, "Yes." Upon which the patient became ecstatic. The doctor asked the patient, "Why are you so happy?" The patient replied: "I have never played the violin before."

There is no law that would prohibit you from obtaining a loan modification. Having said that, there is also no law requiring the bank to give you a modification after bankruptcy. Some banks will and some will not.

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Answered on 8/28/08, 10:31 am


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