Mortgage modifications allow you to put your mortgage past due payments back into a new payment plan. Lenders usually will not stop a foreclosure while your mortgage modification is under review. Please be careful about waiting for your loan modification until immediately prior to the end of your foreclosure or sherriff’s sale. Every month that passes without a modification adds 1 month of mortgage payment to the arrears amount due in a Chapter 13.
You can complete your loan modification after your Chapter 13 is filed and lower your Chapter 13 payment to the terms of the loan modification. Don’t wait too long for your loan modification which is never approved to learn your back mortgage payments have increased your Chapter 13 payment.