Filing a bankruptcy petition is a life-changing event for any consumer debtor. No matter the Bankruptcy Code chapter under which a debt-or seeks relief, careful thought must be given during a period of crisis not only to the present, but also to the future. A primary decision that any debtor/homeowner must make is whether to retain or aban-don his/her home.
Similarly, a bankruptcy filing by a mortgagor is a critical event in the life of a mort-gage loan, and upon its occurrence, the loan servicer must carefully consider how it will proceed. Neither of these decisions should be made in a vacuum; they are better made when the parties are well informed. Yet the exchange of information between the debtor and the debtor’s servicer is a perennial source of problems in bankruptcy.