Loan modification

UPDATED: Oct 1, 2022

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Loan modification

I am currently signing documents for HAMP, loan
modification, after signing the modification
can I file a bankruptcy for my credit card debt
and still make my house payments? I don’t want
to lose my home I will still make payments just
want to erase my credit card debt. Can the
lender sell the home without my knowledge?

Asked on May 7, 2019 under Real Estate Law, California


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Consult with a bankruptcy attorney before doing anything: bankruptcy is a highly technical area of law, and there are many rules, exceptions, etc. that can trip you up.
The above said, as a general rule, you can "affirm" a secured debt, like a mortgage or HELOC (i.e. a debt or loan where they can take property if you don't pay), and keep paying it in bankruptcy. You have to specifically do this in the course of the bankruptcy--it is not automatic.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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