Q: Please advise what is the best way to approach it.
In the last few years I am battling with the mortgage company to save my second house. I tried to get a modification from the lender but unfortunately without success.
Since 2015 I field three BK 13 because of financial hardships, and to stop the sale process and obtain a modification.
First case 1/2015 was filled after seven month payment plan, since I couldn't afford the program payment and the case dismissed.
Second case was filled in 04/2018 and got dismissed .
Third case was filled in 06/1/2018. The first meeting at court schedule on 07/05/2018.
I want to start a short-sale process on my house, and in order to "buy" time, I filed a bankruptcy by myself. This morning I received an audit request by the court for the bankruptcy I filed independently. The deadline to send the document is 07/06/2018
At this point I started the short sale with a real estate agent.
A: You really need the help of an experienced bankruptcy practitioner. The multiple filings may be problematic and the issues involved with short sale and loan modification can be complicated and frustrating. You should be able to get a consultation and at least get some advise for the right direction if you are determined to do it on your own.
Leon Bayer agrees with this answer
A:
Generally speaking, multiple bankruptcy filings to frustrate the legitimate actions of a lender over the same property are difficult, and will usually, but not always, be unsuccessful.
The court does not like to be used as a revolving door for anyone to have all the benefits of the automatic stay without paying your way for that benefit, every month, on time. That is the debtors bankruptcy bargain. You must pay for protection.
Your automatic stay will likely terminate just as automatically as it started, on or about July 1, 2018 unless you get a court order specifically extending the automatic stay prior to that date.
Maybe it is time to walk away from the house? I am sorry about being so blunt. I mean you no offense, and only seek to inject some common sense in a painful situation. Sometimes we bite off more than we can chew. While I hope you have a good outcome, I don't see the seeds of that success in the facts that you have laid out.
It may be that there is simply no solution that can allow you to continue owning the property. I'm guessing this is a rental property, that you are dependent on the income, but can not afford the mortgage?
Peter Maurice Lively agrees with this answer
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