house payment and ch7

[lilkim]

i was wondering if you are only like a week or two past your due date for your mortgage when you have your 341 meeting if they can take your home from you? it is just a small double wide but it is financed with our land which is 19.2 acres. we currently have no equity in it but i still can`t help but wonder if they they will try to take some of our land from us. can someone please help ease my mind, i am going crazy over this.
thank you!!!

[Minnymouth]

You didn't say what state you were in.....
If there is no equity in house and land and you are reaffirming on it, they normally do not bother it. They really can't take something that the bank has a lien on, it would resort back to the bank on foreclosure.

If you own the land free and clear, then you might have a problem....

If you are reaffirming, you need to get those payments current as soon as possible.

Minny

[lilkim]

thanks minny, i am in sc. no we don`t own the land free and clear, it is all financed in with our mobile home payment. do you think that will make a difference?

[HHM]

The thing that will bring you the most peace of mind is to get caught up on the payments!!!!

They would have to file a Motion to Lift the Automatic Stay first, before anything can happen.

[lilkim]

thanks hmm i really appreciate your advice, i know i seem to have lots of ?`s. thanks again!!