Please Help

[doglover]

Hi, Our Ch 13 finally is confirmed (12/3/2007)and in the repayment plan is 4 months of missed house payments and since we filed in September we have been making our house payments outside the plan as ordered on time. Well this month....lets just say when it rains it pours and I don't think we can come up with our house payment. What will happen????? Thanks so much for any help. BTW there is NO one we can borrow from, people ask us for help, lol.

[isitreal]

Having not been through this process (YET), I'm not sure I have any advice. Does anyone know if the trustee might let them slide a bit on the ch.13 payment in order to save the house?

[lrprn]

I don't think we can come up with our house payment. What will happen?????

You need to call your lawyer immediately to inform him/her about this situation. Some trustees are understanding and may allow you to skip a month or two of Ch 13 payments to catch up, others won't. Your lawyer is likely familiar with what your trustee is likely to do.

When you miss even one mortgage payment in Ch 13, your mortgage company can petition the bk court to lift your automatic stay and start foreclosure proceedings.

Did you reaffirm your mortgage?

[doglover]

Some trustees are understanding and may allow you to skip a month or two of Ch 13 payments to catch up, others won't.

Did you reaffirm your mortgage?

Thank you for your advice. My payments to the Trustee are payroll deducted so it won't help us now.

Reaffirm??? Whats' that?

[HHM]

Reaffirmations do not apply to chapter 13's, so don't worry about that..

But, the long and short of it is, if you miss a mortgage payment in a chapter 13, the bank will lift the automatic stay and foreclose. If you want to keep the house, you better beg, borrow, cancel Christmas, whatever, to make that payment.

[lrprn]

Reaffirmations do not apply to chapter 13's, so don't worry about that..

Actually, HHM....we Ch 13 filers can decide about reaffirmation (or redemption or surrender) for mortgages and other secured loans that extend beyond discharge just like Ch 7 filers do.