Bayonne, NJ asked in Bankruptcy and Consumer Law for New Jersey

Q: My loan was soldl to another lender Carrington mortgage from Chase. IM currently in a Chapter 13 Bankruptcy.

Chase denied a loan modification. My attorney appealed but the Bankruptcy judge agreed to suspend the loan modification. The loan was sold. If the new lender denies a loan mod will the foreclosure process start all over again? I have been making regular mortgage payments with Chase since the bankruptcy began. My lawyer cannot be reached for comment. This is why I'm reaching out for advice. Thank you kindly I respect your time.

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3 Lawyer Answers
Karra Kingston
Karra Kingston
Answered
  • Bankruptcy Lawyer
  • Staten Island , NY

A: They can still foreclose on your home even though it was sold.

Leonard R. Boyer
Leonard R. Boyer
Answered
  • Bankruptcy Lawyer
  • Clifton, NJ
  • Licensed in New Jersey

A: You obviously need to retain an experienced NJ Bankruptcy attorney who knows and thoroughly understands how the Bankruptcy Court's mortgage modification program works. This is not something that a bargain basement attorney can represent you in. You need an attorney who does this on a regular and ongoing basis. Someone who knows what the lenders and Judges want, in the way the case is presented.

Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Apply for a new loan mod with Carrington.

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