Interesting article in Nov 7, 2007 NYT describing how lenders are trying some sneaky ways of forcing forclosure after CH13 and adding illegal fees to loans of people who file CH 13.
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Filed CH 13 September 17, 2007
Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013! -
So what else is new. Capitalism at its worst -
In case the link goes dead, here's the article's content....
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Dubious Fees Hit Borrowers in ForeclosuresI am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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This is very true. How Lenders take you to the cleaners when you're in Foreclosure.
We got a pay-off for a "contingent" offer on our house in late January, early February. We sold in June, after going to thru Foreclosure to cancelling the Auction on Sale day.
In that short period of time, CountryWide had added $8K in lates, penalties, interest, other fees, and Foreclosure costs to our pay-off. Money we had to pay at Closing to get the house sold and closed.
No wonder CountryWide keeps sending us mailers for a new home loan.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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