Mortgage payments

[sal]

My wife and I are supposed to file for bk13 soon(December ?).
We dont have any money to live on, even without making our truck payment and no cc payments.
My question is this.
If we skip a few months of motgage payments how soon will they come after us? We want to keep the house but.....
We just need to create some breathing room right now for emergencies and what not.
Should I call US Bank and see if they will work with us?
Your advice will be greatly appreciated.
Thanks

[chloe0724]

Sal,

Are you sure that a BK will fix your money problems? If you are unable to make your mortgage payment even without tour cards and car payments, how is a BK going to fix your situation?

In a 13, you need to have money left over after all your bills are paid to repay your creditors.

[Beyondrepair]

We're in the same boat as you. We are planning on filing for BK7 in December, but due to lack of auto sales (my husband's job), we have not even enough to make the entire mortgage payment after paying just the essentials (groceries, insurance and utilities). We are both currently looking for new employment, but no responses yet. We decided to call our mortgage company, Wells Fargo. They are sending us a package in a few days detailing a couple different options for us. They did make it clear they do not want us to default on the house. So, hopefully they will come back with something do-able. If I were you, I would give them a call. Maybe yours will be open to working with you. Best of luck. I'll let ya'll know what Wells Fargo comes back with.

[r.m]

Without seeing your finances, it's hard to imagine how a 13 will help you.

However, I do understand that most BK attorneys are acting like used car salesmen, and telling people that they should file 13 when only a 7 makes sense.

If that's what you've been told, go get a second (and a 3rd, or 4th) opinion, as needed.

More importantly, DO YOUR HOMEWORK. If you're relying completely on someone else's expertise, how will you have any idea if what they're saying is best for you, really is?

[r.m]

BTW, check my other posts for some common misinformation that people are getting about keeping their homes after BK.

[sal]

Thanks

RM, thanks. Btw , I cant file a 7 as i did so in 04. My wife cant file because "they" will come after my earnings. Keep in mind we really have no assetts.
Im not sure i can even qualify for a modification to our mortgage.
HELP!!!!!