2nd mortgage

[jade73]

We filed Chap 13 last July. Since then we had several changes in our income first unemployment and now only 2 weeks of unemployment left and NO JOB to be found. We already have a cures payment due on the 15th of every month and it cannot be late. Well meantime our 2nd mortgage hasn't been paid on since Oct 1st of last year and we have heard NOTHING about it from our lawyers office. Of course the reason we havent been paying it is because of the cures payment and we didnt have any wiggle room to start with. I probably should have called the lawyers office when my husband was laid off but there wasnt ANY change in our income. He started drawing unemployment and I got a raise which covered his loss. I'm about to call the lawyers office because his UI is about to be over in two weeks. I just can't figure out why nobody has mentioned the 2nd mortgage. At this point I'm actually afraid to bring it up. We have had our house on the market for a year and NOTHING...NO LOOKERS, NO POTENTIALS, NO NOTHING!

Ugggh I am so financially stressed, help me. What should I do?

[justbroke]

You should be talking to your attorney tomorrow morning. You should be asking all these same questions and get REAL answers. Perhaps your 2nd mortgage was stripped in the Chapter 13, and you just don't know it. Being stripped means that you don't pay it and the lien goes away once you complete the Chapter 13.

You ALWAYS call the attorney when there is a change in circumstances. Don't measure it by income. I would be on the phone at 8AM tomorrow setting up an appointment to see the attorney. Don't take no for an answer. You need to deal with this promptly and start to make decisions about where you want to go from here. Without income, it is highly likely you won't be able to keep the home.

[espo1357]

We filed Chap 13 last July. Since then we had several changes in our income first unemployment and now only 2 weeks of unemployment left and NO JOB to be found. We already have a cures payment due on the 15th of every month and it cannot be late. Well meantime our 2nd mortgage hasn't been paid on since Oct 1st of last year and we have heard NOTHING about it from our lawyers office. Of course the reason we havent been paying it is because of the cures payment and we didnt have any wiggle room to start with. I probably should have called the lawyers office when my husband was laid off but there wasnt ANY change in our income. He started drawing unemployment and I got a raise which covered his loss. I'm about to call the lawyers office because his UI is about to be over in two weeks. I just can't figure out why nobody has mentioned the 2nd mortgage. At this point I'm actually afraid to bring it up. We have had our house on the market for a year and NOTHING...NO LOOKERS, NO POTENTIALS, NO NOTHING!

Ugggh I am so financially stressed, help me. What should I do?

Sorry to hear about your situation.

Yup, you have to call the lawyer and speak up. These lawyers are not mind readers.

Seems like the best thing to do with the limited information you provided, is to convert to a 7 if you can't find more income and just walk from the home.

Starting over is not so bad.

I wish you the best of luck. Keep us posted.

[jade73]

Thanks Guys!

[jade73]

Well I called the attorneys office and they didn't make a big deal out of our situation as I have. She asked me if we were still going to be able to make our trustee payment and I advised her that it came out of my check. Then she said we didnt even need to come in if we could continue to pay that payment and the mortgage on my income alone. I don't know about all that! Then she sais we could apply for a modification, knowing that will never happen. We have been told several times that we cant get modified, uggh I just want to scream.