{"id":900,"date":"2013-03-24T16:19:55","date_gmt":"2013-03-24T16:19:55","guid":{"rendered":"http:\/\/www.bankruptcylawyer-nj.com\/blog\/?p=900"},"modified":"2021-12-26T23:06:07","modified_gmt":"2021-12-26T23:06:07","slug":"requirements-if-mortgage-company-approves-a-loan-modification","status":"publish","type":"post","link":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/","title":{"rendered":"Requirements For A Mortgage Company Loan Modification In Bankruptcy"},"content":{"rendered":"<p>If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will enter an order approving the loan modification without resistance. However, generally, in a chapter 13, the trustee will require a debtor to amend their income and expense schedules and their bankruptcy plan.<br \/>\nAt the time of the bankruptcy filing, the mortgage company will file a proof of claim reflecting the total amount due and the arrears balance. At some point, the debtor will be required to pay the pre-filing mortgage arrears, through the bankruptcy plan, unless the mortgage company approves a loan modification. Typically, a<a href=\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/04\/07\/save-your-house-after-loan-modification-default\/\"> mortgage loan modification removes the arrears<\/a> and spreads the arrears over the life of the loan, either with or without a balloon payment at the end of the loan.<br \/>\nAfter the bankruptcy court enters an order approving the loan modification, the debtor will be required to modify their bankruptcy plan to reflect the loan modification approval. Also, the debtor will be required to amend their income and expense schedules to reflect their new disposable income amount,which includes their new mortgage payment and the elimination of any previous payment towards the mortgage arrears. The new chapter 13 monthly trustee payment, must at least reflect their new monthly disposable income amount.<br \/>\nRobert Manchel may be reached at (866) 503-5655, to discuss your <a href=\"https:\/\/www.bankruptcylawyer-nj.com\/loan-modifications-in-bankruptcy\/\">bankruptcy and loan modification<\/a> questions.<\/p>","protected":false},"excerpt":{"rendered":"<p>If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will enter an order approving the loan modification without resistance. However, generally, in a chapter 13, the trustee will require a debtor to amend their income and expense schedules and their bankruptcy plan. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-900","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-loan-modification-in-bankruptcy","7":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage Company Loan Modification Requirements \u2013 Manchel New Jersey Bankruptcy Law<\/title>\n<meta name=\"description\" content=\"If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Company Loan Modification Requirements \u2013 Manchel New Jersey Bankruptcy Law\" \/>\n<meta property=\"og:description\" content=\"If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\" \/>\n<meta property=\"og:site_name\" content=\"New Jersey Bankruptcy Attorney - Robert Manchel, Esq.-Manchel New Jersey Bankruptcy Law\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Law-Offices-of-Robert-Manchel-107436425946369\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-24T16:19:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-26T23:06:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bankruptcylawyer-nj.com\/wp-content\/uploads\/2024\/11\/manchel-new-jersey-bankruptcy-law-social-share.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"950\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Manchel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ManchelLaw\" \/>\n<meta name=\"twitter:site\" content=\"@ManchelLaw\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Robert Manchel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\"},\"author\":{\"name\":\"Robert Manchel\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/person\/9eadb376274098279e956a993bff603e\"},\"headline\":\"Requirements For A Mortgage Company Loan Modification In Bankruptcy\",\"datePublished\":\"2013-03-24T16:19:55+00:00\",\"dateModified\":\"2021-12-26T23:06:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\"},\"wordCount\":240,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#organization\"},\"articleSection\":[\"Loan Modification In Bankruptcy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\",\"url\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\",\"name\":\"Mortgage Company Loan Modification Requirements \u2013 Manchel New Jersey Bankruptcy Law\",\"isPartOf\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#website\"},\"datePublished\":\"2013-03-24T16:19:55+00:00\",\"dateModified\":\"2021-12-26T23:06:07+00:00\",\"description\":\"If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will\",\"breadcrumb\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.bankruptcylawyer-nj.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Requirements For A Mortgage Company Loan Modification In Bankruptcy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#website\",\"url\":\"https:\/\/www.bankruptcylawyer-nj.com\/\",\"name\":\"New Jersey Bankruptcy Attorney - Robert Manchel, Esq.-Manchel New Jersey Bankruptcy Law\",\"description\":\"New Jersey bankruptcy attorney Robert Manchel, Esq. with 4 offices can help you now with Chapter 7 or Chapter 13 bankruptcy protection. Our NJ bankruptcy law firm services the State of New Jersey.\",\"publisher\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.bankruptcylawyer-nj.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#organization\",\"name\":\"Manchel New Jersey Bankruptcy Law\",\"url\":\"https:\/\/www.bankruptcylawyer-nj.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.bankruptcylawyer-nj.com\/wp-content\/uploads\/2021\/06\/logo.jpg\",\"contentUrl\":\"https:\/\/www.bankruptcylawyer-nj.com\/wp-content\/uploads\/2021\/06\/logo.jpg\",\"width\":251,\"height\":107,\"caption\":\"Manchel New Jersey Bankruptcy Law\"},\"image\":{\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Law-Offices-of-Robert-Manchel-107436425946369\/\",\"https:\/\/x.com\/ManchelLaw\",\"https:\/\/lawyers.justia.com\/lawyer\/robert-manchel-1385222\",\"https:\/\/www.linkedin.com\/in\/robertmanchelbankruptcylaw\",\"https:\/\/www.avvo.com\/attorneys\/08053-nj-robert-manchel-481439.html\",\"https:\/\/lawyers.findlaw.com\/profile\/view\/2930724_1\",\"https:\/\/www.hg.org\/attorney\/manchel-new-jersey-bankruptcy-law\/63998\",\"https:\/\/www.crunchbase.com\/organization\/the-law-office-of-robert-manchel\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/person\/9eadb376274098279e956a993bff603e\",\"name\":\"Robert Manchel\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1d8f50cca1741c106a76e1035782b143?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1d8f50cca1741c106a76e1035782b143?s=96&d=mm&r=g\",\"caption\":\"Robert Manchel\"},\"url\":\"https:\/\/www.bankruptcylawyer-nj.com\/author\/badmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mortgage Company Loan Modification Requirements \u2013 Manchel New Jersey Bankruptcy Law","description":"If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/","og_locale":"en_US","og_type":"article","og_title":"Mortgage Company Loan Modification Requirements \u2013 Manchel New Jersey Bankruptcy Law","og_description":"If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will","og_url":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/","og_site_name":"New Jersey Bankruptcy Attorney - Robert Manchel, Esq.-Manchel New Jersey Bankruptcy Law","article_publisher":"https:\/\/www.facebook.com\/Law-Offices-of-Robert-Manchel-107436425946369\/","article_published_time":"2013-03-24T16:19:55+00:00","article_modified_time":"2021-12-26T23:06:07+00:00","og_image":[{"width":950,"height":500,"url":"https:\/\/www.bankruptcylawyer-nj.com\/wp-content\/uploads\/2024\/11\/manchel-new-jersey-bankruptcy-law-social-share.jpg","type":"image\/jpeg"}],"author":"Robert Manchel","twitter_card":"summary_large_image","twitter_creator":"@ManchelLaw","twitter_site":"@ManchelLaw","twitter_misc":{"Written by":"Robert Manchel","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#article","isPartOf":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/"},"author":{"name":"Robert Manchel","@id":"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/person\/9eadb376274098279e956a993bff603e"},"headline":"Requirements For A Mortgage Company Loan Modification In Bankruptcy","datePublished":"2013-03-24T16:19:55+00:00","dateModified":"2021-12-26T23:06:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/"},"wordCount":240,"commentCount":0,"publisher":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/#organization"},"articleSection":["Loan Modification In Bankruptcy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/","url":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/","name":"Mortgage Company Loan Modification Requirements \u2013 Manchel New Jersey Bankruptcy Law","isPartOf":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/#website"},"datePublished":"2013-03-24T16:19:55+00:00","dateModified":"2021-12-26T23:06:07+00:00","description":"If a mortgage company approves a loan modification, the loan modification agreement must be approved by the bankruptcy court. Typically, the court will","breadcrumb":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.bankruptcylawyer-nj.com\/2013\/03\/24\/requirements-if-mortgage-company-approves-a-loan-modification\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.bankruptcylawyer-nj.com\/"},{"@type":"ListItem","position":2,"name":"Requirements For A Mortgage Company Loan Modification In Bankruptcy"}]},{"@type":"WebSite","@id":"https:\/\/www.bankruptcylawyer-nj.com\/#website","url":"https:\/\/www.bankruptcylawyer-nj.com\/","name":"New Jersey Bankruptcy Attorney - Robert Manchel, Esq.-Manchel New Jersey Bankruptcy Law","description":"New Jersey bankruptcy attorney Robert Manchel, Esq. with 4 offices can help you now with Chapter 7 or Chapter 13 bankruptcy protection. Our NJ bankruptcy law firm services the State of New Jersey.","publisher":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bankruptcylawyer-nj.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bankruptcylawyer-nj.com\/#organization","name":"Manchel New Jersey Bankruptcy Law","url":"https:\/\/www.bankruptcylawyer-nj.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.bankruptcylawyer-nj.com\/wp-content\/uploads\/2021\/06\/logo.jpg","contentUrl":"https:\/\/www.bankruptcylawyer-nj.com\/wp-content\/uploads\/2021\/06\/logo.jpg","width":251,"height":107,"caption":"Manchel New Jersey Bankruptcy Law"},"image":{"@id":"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Law-Offices-of-Robert-Manchel-107436425946369\/","https:\/\/x.com\/ManchelLaw","https:\/\/lawyers.justia.com\/lawyer\/robert-manchel-1385222","https:\/\/www.linkedin.com\/in\/robertmanchelbankruptcylaw","https:\/\/www.avvo.com\/attorneys\/08053-nj-robert-manchel-481439.html","https:\/\/lawyers.findlaw.com\/profile\/view\/2930724_1","https:\/\/www.hg.org\/attorney\/manchel-new-jersey-bankruptcy-law\/63998","https:\/\/www.crunchbase.com\/organization\/the-law-office-of-robert-manchel"]},{"@type":"Person","@id":"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/person\/9eadb376274098279e956a993bff603e","name":"Robert Manchel","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bankruptcylawyer-nj.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1d8f50cca1741c106a76e1035782b143?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1d8f50cca1741c106a76e1035782b143?s=96&d=mm&r=g","caption":"Robert Manchel"},"url":"https:\/\/www.bankruptcylawyer-nj.com\/author\/badmin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/posts\/900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/comments?post=900"}],"version-history":[{"count":1,"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/posts\/900\/revisions"}],"predecessor-version":[{"id":6689,"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/posts\/900\/revisions\/6689"}],"wp:attachment":[{"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/media?parent=900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/categories?post=900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bankruptcylawyer-nj.com\/wp-json\/wp\/v2\/tags?post=900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}