Mortgage Forum

Mike

Hey Guys I need some feed back with this. I am also having a hard time with ASC and here's a part of our problem. Last Dec'2007 we started with our negotiations with ASC and did sent them our worksheet, proofof incom and etc. At that time I feel that we are already way over our head so at the same time we decided to go through credit counseling. Our councelor told us that we are already too deep and that our only way out is to file for a chapter 13. Went to their recommended lawyer and they gave us our assignment and said that next time we show up, it will be to hand over the finished assignments and other requirements that are needed. Now here's the question that I should have asked before. Will my BK filing affect in anyway our negotiations with ASC? We are hoping to get a better rate and hoping to put our arears at the back of our loan. This will really open up our finances so as not to be in the same boat again.Will ASC still negotiate with us, since with the BK we will be making our monthly payments anyway, why would they negotiate? Anyway, since we are on negotiations with them, they have postponed our foreclosure. But then last week, they said that they could not help us right now, since there is no program for us. Mind you we sent them our old worksheet and not the new worksheet projection post BK. They did however told us in their letter that we need to go through credit counseling.We were afraid before because if we say that we're going for chapter 13, they will stop talking to us and hire a lawyer for their company. Was I wrong? OK this week they sent us a letter saying that they have retained the services of a law firm and they will proceed with the foreclosure. We are also starting to get letters from realtors and this is making my fiancee more stressed and when she's stressed I get stressed and also she wouldn't let me sleep. So, I figure, here's our plan. To file for BK in the next few weeks prior to the auction. Since I have already retained a BK lawyer last December, I will just write their lawyer a letter stating to contact them instead of us. As in one of Moe's post do you think the BK judge can help us negotiate with our lender? or help us fix our loan? Any more ideas out there? OH by the way I am still waiting for the forensic report on my Loan documents. THX