Can I qualify to modify my mortgage after filing chapter 13?

When you declare bankruptcy under chapter 13, there is sometimes an option available called a "cramdown." However, this is usually only used for investment properties, and is most often used on a second mortgage. In a cramdown, essentially what happens is the lender has to forgive the balance owed on the mortgage loan over and above the current market value of the property. For example, if you have an investment property that you owe $100,000 on, but the property is only worth $80,000, a cramdown would result in your mortgage loan being reduced to $80,000.  The remaining balance that was forgiven as a part of the cramdown will then become a form of unsecured debt that is included in your standard chapter 13 repayment plan along with any and all other unsecured debts you are bankrupting. 

Most often, this cramdown procedure is only an option for investment properties; however in a limited array of instances it might be possible to do something similar with a private residence mortgage and/or with a first mortgage. A lot will depend on how much you actually owe, how much the property is worth, and what your lender is willing to do for you during the bankruptcy proceedings.

There may also be other mortgage modification options available specifically through your lender, especially if he knows you are in danger of declaring bankruptcy. Before you take any action, it is imperative you speak with a lawyer who can help you to evaluate your financial situation and get the best outcome possible from a bankruptcy.