Here is my question......
Story line Already Filed 13 switched to 7 discharged clean slate.... Got in another pickle 6 months later after 7 discharge broke leg insurance not pay $25,000 whammy lost time at work. filed new 13.... here is where it gets dicey
the mortgage company did not accept my payments for 5 months refused them and as a result generated a payment plan to repay over 6 months so this caused me a $2400 house note plus a 2100 payment plan to catch arrears up cause new plan wouldnt allow the lates in the plan due to timing of the case being filed. ( I got rooked) .... plus $600 to trustee..... I tried to swallow the pill made 3 payment cycles and wiped out my savings and business declined during this period beyond recovery point to fund this amount of payment.
so fast forward OCT 11 I told my atorney dismiss the case as I cant pay $600 a month and another $4500 a month to keep the house upright over next 3 months due to change in cash flow.
$2400 is the house note and $2100 is the outside the plan arrears payment!
So judge accepted dismissal (debtor dismissal) and signed order it was done. I am now trying for a home loan mod and not making any payments to build cash reserves. ALSO wife just graduated nursing school and should help with income in 90 days. I know under hamp we can qualify for 12 months no payment to allow wife to get up to speed with the unemployment clause in HAMP But as you know and I know the hoops and promises are not always easy to obtain and I expect curve balls to say the least..............
My thinking is to play this game until the mortgage company makes ruling on HAMP? If they decline do you think the courts would be an option for a clean chapt 13 where it takes all lates puts in plan with one more fresh start with the idea being the last 13 wasnt properly established in the context the $4500 month was too much of a burden for me to sustain in this economy. Or do we just say hell with it and walk away and rent!
Story line Already Filed 13 switched to 7 discharged clean slate.... Got in another pickle 6 months later after 7 discharge broke leg insurance not pay $25,000 whammy lost time at work. filed new 13.... here is where it gets dicey
the mortgage company did not accept my payments for 5 months refused them and as a result generated a payment plan to repay over 6 months so this caused me a $2400 house note plus a 2100 payment plan to catch arrears up cause new plan wouldnt allow the lates in the plan due to timing of the case being filed. ( I got rooked) .... plus $600 to trustee..... I tried to swallow the pill made 3 payment cycles and wiped out my savings and business declined during this period beyond recovery point to fund this amount of payment.
so fast forward OCT 11 I told my atorney dismiss the case as I cant pay $600 a month and another $4500 a month to keep the house upright over next 3 months due to change in cash flow.
$2400 is the house note and $2100 is the outside the plan arrears payment!
So judge accepted dismissal (debtor dismissal) and signed order it was done. I am now trying for a home loan mod and not making any payments to build cash reserves. ALSO wife just graduated nursing school and should help with income in 90 days. I know under hamp we can qualify for 12 months no payment to allow wife to get up to speed with the unemployment clause in HAMP But as you know and I know the hoops and promises are not always easy to obtain and I expect curve balls to say the least..............
My thinking is to play this game until the mortgage company makes ruling on HAMP? If they decline do you think the courts would be an option for a clean chapt 13 where it takes all lates puts in plan with one more fresh start with the idea being the last 13 wasnt properly established in the context the $4500 month was too much of a burden for me to sustain in this economy. Or do we just say hell with it and walk away and rent!