if you file bankruptcy, are mortgage lenders more or less likely to work with you for a modification?

Question by bnwng98: if you file bankruptcy, are mortgage lenders more or less likely to work with you for a modification?
in filing chapter 13 bankruptcy, are mortage lenders more or less likely to work with you to get a home modification. My home has dropped 90,000 in value and it’s really not worth paying on a 170,000 loan when other houses in my neighborhood are being sold for 80,000 and getting a lower interest rate.

Best answer:

Answer by jlf
Mortgage modification decisions are not made on the basis of your home’s current market overestimated. They are made based on your ability to pay the loan. You can’t get a principal reduction just because you want one.

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