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

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    #16
    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.
    11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

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      #17
      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.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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        #18
        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.

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