Accidently Missed Mortgage Payment Yesterday...Does this screw us?

[toojerm]

I relocated and got three months behind on my mortgage paid outside the plan. I caught up before my discharge last june, and the best part was, no reports of late payments ever hit my credit report.

[justbroke]

You could go through the bankruptcy court and have a post-petition arrearage added to the plan. In either case, the Trustee and/or Court (and probably the creditor) would want this corrected over 6 months (and not spread over the life of the plan).

If you are paying outside the plan, you could ask for a forbearance and an installment plan to bring the mortgage "current" outside the plan. Typically, the lenders will allow 3 months for every single missed payment. If you had one missed payment, you would typically get a 3 month installment to cure the arrears.

Your issue is that you are nearing the end of plan, so time is of the essence. Your attorney may have better suggestions.

[spidge]

What is the best way to get caught up on a mortgage paid outside the ch13 plan? Currently 45 to 60 days behind.

Of coarse I could call my attorney and negotiate an increase in my mortgage payment over time to satisfy. I believe there is a BK rule for guidance on this.

Plainly make an additional payment. If I do when should this be done? Maybe after the last payment was applied/dispersed? Is timing important?

Another thought, does the mortgage holder track payments or balances? So since all my payments go into a suspense account and is not applied until a full payment is available could I simply add what I can each month until caught up?

I am a little nervous, but I think I can get there one way or the other.

[dmc-2008]

What do you consider late?

After the 10th but it hit today!!! Yay

[spidge]

I hope my payment hits tomorrow or I will be late too cause of this holiday!

What do you consider late?

[dmc-2008]

I hope my payment hits tomorrow or I will be late too cause of this holiday!

[BNKRPTinNC]

Not trying to hijack thread but this has something do with owning a home. We had some county taxes that were not paid. We were completely unaware but were notified by the mortgage company of a tax bill that had not been paid dating back 5 years, the beginning of our 13. Now I had been paying all taxes outside of plan except for the first year and not once was there any indication of a past due amount. Somehow it got missed in the initial filing and the laws being what they are the county, apparently, could not attempt to collect while in the 13. The amount was less than $50 but there was interest dating all the way back. It would suck big time if the banks could actually ding you and not tell you about it until after you have completed your plan and then tell you to pay up or else, which was pretty much the attitude I got in a letter from my lender.

[switch625]

I'm post-petition but still pre-confirmation and I've been paying my mortgage and HELOC anywhere from 1 to 2 weeks after the due dates with no consequence or late fees.

I should know the answer to this but does the stay remain in place after confirmation until discharge?

[spidge]

Pardon reviving an older thread.

While reading the rule in the link provided by LITR it seems if the mortgage company fails to notify the debtor, attorney, and the trustee or any fees they will not be allowed. Does this include post petition late fees? My take on the info provided seems to indicate that if the mortgage company does not notify me then the fees will not be allowed. On the other hand is the timelines referenced in the link provided more around the discharge and payment change dates?

I have made many mortgage payments outside the grace period with no reaction from the bank, yet. I have not received a statement since Jan. 2014 but can follow online. I see no additional fees online. I am a little nervous about it, but cannot do anything yet. Currently 45 days past due and have been for some time. I may be able to catch up in the next few months, but we will see.
My payments all go into a suspense account and are later dispersed to the interest, principle, and impounds. Usually a few days later. If I wait until the payment is dispersed and make another full payment say a week later could this be considered and logged by the bank as an additional, but separate payment? My hopes are to make a payment near the beginning and end of September, then the October payment would be made on time shortly after the late September payment. My thinking based on the courts payment verification form is that each payment fills a slot on the form for payment #, but is not calendar based. So 60 mortgage payments may reflect a date when made, but all 60 slots would be filled.
I hope that makes sense.

[LadyInTheRed]

My Bank of America mortgage statement has a section called "outstanding post-petition fee summary". Below the summary is the following:

To the extent that Bank of America, N.A. intends to collect fees incurred during the bankruptcy case from the Borrower, the fees will be included on a Post-Petition Fee Notice pursuant to Rule 3002.1 of the Bankruptcy Rules.

You can read rule 3002.1 at http://www.law.cornell.edu/rules/frbp/rule_3002.1

So, if the late payment resulted in any late fees, you should receive a notice. There should be no surprises at the end of the plan.

While not making timely mortgage payments is technically a violation of the terms of your plan, I really doubt any judge is going to dismiss a case because the debtor made a payment a couple of days late, especially when payments were then kept current up to the date of the hearing on a motion to dismiss. I also really doubt that either the mortgage company or the trustee would bother filing a motion to dismiss.

[spidge]

I was in a 100% plan where things got tight, mortgage outside the plan. I knew I was 5 months from a bonus, so I let the mortgage slide for three months. A law firm representing the lender was added to the list of notified, but otherwise nothing. I caught up 6 months later, a year before discharge. These late payments weren't even listed on my credit history when I refinanced 2 months after discharge.

Did the mortgage have any additional charges at discharge for you? I ask because I have read where someone made their last BK13 payment, but the mortgage company required they pay additional charges related to the timing of the mortgage payments. I will see if I can dig it up, but it could be they were asking for bogus charges not allowed in the 13.

If one makes the payment after the due date(plus grace period) does the mortgage company add daily interest charges? Could that be a possible surprise at the end of the 13? I ask these things as I close in on the end of my 13 and wish to be ready for anything. Not stressing, just planning.

[toojerm]

I was in a 100% plan where things got tight, mortgage outside the plan. I knew I was 5 months from a bonus, so I let the mortgage slide for three months. A law firm representing the lender was added to the list of notified, but otherwise nothing. I caught up 6 months later, a year before discharge. These late payments weren't even listed on my credit history when I refinanced 2 months after discharge.

[spidge]

From my experience it does not seem like the bank is interested while in a 13. As mentioned before, as long as you make the payment it is not worth the trouble for them. BUUUUT, I have read here and other places that if you pay late there could be adverse effects at discharge time. I have read of people having to come up with shortages related to the late payments while in a 13. What is considered late? Well, the due date is the 1st plus the grace period, so I would not be concerned over a couple days in you case.

I am in it with you and still don't have all the answers.

[AngelinaCat]

Make your payment.

As was mentioned in another post, you should have a 'grace period'. If you should get any kind of grief, remind the complainant, as NICELY as you can, that the past two weeks have had HOLIDAYS in the middle of them, specifically on Wednesday of both weeks.

Remind them nicely, that should your mortgage holder have any problem with your payment, that they need to review their OWN policies regarding bank holidays, weekends, and other legal, Federal Holidays.

You will do fine!

[dmc-2008]

I have a grace period of 10 days i am surprised you dont.