second mortage question

[saucey]

okay guys got a mortgage question for you.as you all know i had my 341 on friday.both my first and second mortgage are due the first of the month.i paid the first one already but i really wont have enough to pay the second untill the 20th of this month.it will be 5 days late after the grace period.i filed chapter 7 and have not reaffirmed anything yet although i do plan on it soon.what could possibly happen if i pay this second mortage late?

[lrprn]

okay guys got a mortgage question for you.as you all know i had my 341 on friday.both my first and second mortgage are due the first of the month.i paid the first one already but i really wont have enough to pay the second untill the 20th of this month.it will be 5 days late after the grace period.i filed chapter 7 and have not reaffirmed anything yet although i do plan on it soon.what could possibly happen if i pay this second mortage late?

I can't remember, Saucey - did you reaffirm either or both of your mortgages?

[miss puff]

Saucey. We haven't been able to pay our house payment on the 1st for about a year. There have been a couple of times it was even late. We always called the mortgage company and set up a postdated payment so that they knew our intentions were to pay. THey have always accepted these payments, with late fees, late or not, BK or not. Maybe yours will do the same.

[saucey]

I can't remember, Saucey - did you reaffirm either or both of your mortgages?

we did not reaffirm yet but we are going to.my lawyer has contacted our first mortage m&t and has the papers started.our second mortage ditech told our lawyer that they wont reaffirm untill we our up to date.(we payed september but not october yet)

[lrprn]

we did not reaffirm yet but we are going to.my lawyer has contacted our first mortage m&t and has the papers started.our second mortage ditech told our lawyer that they wont reaffirm untill we our up to date.(we payed september but not october yet)

Well, since the loan isn't reaffirmed yet, you may be fine with the late payment or you may not be....all depends on how your second mortgage holder Ditech feels about late payments during bankruptcy on a non-reaffirmed loan. I would ask your lawyer if it's ok to contact Ditech directly to explain the payment will be late but only by five days. Depending on the loan fine print, missing a payment under these circumstance might open you up to foreclosure proceedings. Better safe than sorry.

[tradewiz50]

I can't remember, Saucey - did you reaffirm either or both of your mortgages?

Um, the OP already stated they have not reaffirmed but will do so in the future.

[SinkingFast]

Don't take anything for granted with any loans that are not reaffirmed. Personally, I wouldn't even go into the grace period, but that's just my own paranoia there.

If this was a car, I'd be worried the repo man could be lurking around any corner. Fortunately, getting a house back is much more complicated. And generally the Lender gives you an opportunity to Cure,.......... Bring the loan current before they proceed with Foreclosure.

See if you can call the BK Dept and explain what's going on. Tell them the payment is coming, it'll just be a few days late.

[saucey]

can they really foreclose just because im a few days late?my husband is on the mortgage and he did not file.would that help me at all?i did call ditech today and the guy was giving me a hard time saying he really wasnt allowed to tell me anything.after this one time we will be all caught up.

[miss puff]

can they really foreclose just because im a few days late?.

They won't forclose or go anywhere near forclosure proceedings until you hit that 30 day mark. Most wait about 60-90 days late before they even start threatning. As long as you pay their late fee and make sure you are not past 30 days, i really think you will be fine.