If you have declared bankruptcy, but you house is upside down can you work with the bank to lower the mortgage? In California.

I have been paying the mortgage up until this month and no longer can afford it.

Did you already have a creditor's meeting in the bankruptcy matter yet? Was the mortgage holder informed of your bankruptcy proceedings? What Chapter did you file? Have you tried to get the loan refinanced for a lower monthly payment?
Twink

We filed the bankruptcy where it erases everything. If we keep making the payments on the house they won't take it because they wouldn't be able to sell it.
Maybe 13? I don't have the paperwork, my Ba$tard husband does.
Back in November finalized in May I think and yes the bank knows.

If you have declared bankruptcy, but you house is upside down can you work with the bank to lower the mortgage? in California.


The Bankruptcy Code does not allow a cramdown with respect to residential mortgages. There is talk of changing this in Congress, but as of yet it's just talk.

We filed the bankruptcy where it erases everything.
Sounds like a Chapter 7. If by erases you mean discharges, yes, but the bank still can foreclose it's mortgage if it wants, and then sell the house.
If we keep making the payments on the house they won't take it because they wouldn't be able to sell it.
They could. They would take a loss, but could sell it for something.

Maybe 13? I don't have the paperwork, my Ba$tard husband does.
Back in November finalized in May I think and yes the bank knows.

You can get copies from the bankruptcy court, or download them online There is a per page charge for that though.