Saving Ch13 and delinquent mortgage.

[sophieanne]

Spidge - that's geat news..i'm happy for you. Honestly now I'm on pins and needles ..I want to know the details too
It's wonderful how we all cheer each other on and celebrate in succcesses and encourage in rough times. It's a wonderful place to come with a lot of wonderful people.

[dmc-2008]

Crossed fingers it's all good!

[spidge]

I called the mortgage company today and was told that my trial payment will be quite a bit less than the old payment and much less than expected. They would not share the details but told me the attorney should see the packet shortly and my first trial payment will be in May. I am excited and we will have a small dinner out to celebrate. The real excitement will come if the documents reveal a good long term solution.

Piddling along, but making progress.

All the discharge announcements that have been shared here lately have me quite excited. I just love you Guys and Gals. I can't say enough how all the sharing and reading here at BKForum has helped with clear expectations and satisfying my occasional silly questions.

[spidge]

So we have been under audit for quite a few days and today we received a letter with the annual statement on the back. The letter stated that because our disposable income in our plan exceeds the amount of the percent payback of our "claims" the payback percentage will be increased. I knew it would happen as so many here have shared that payback percentage does not matter and to focus on the plan base. Not everyone made a claim in the case so I always wondered how it would have been handled. Well now I know. We went from 3% to 18 %, but again it does not matter as the payment and plan is based on the disposable income determined at the beginning of the plan. So no changes from my end. It was neat to see the balance owed be less that the balance on hand if even for only one month.

Still on hold concerning the modification for the mortgage, but the mortgage company did send me a letter stating that our submitted loss mitigation package is complete. Unfortunately the same letter stated that it could take 30 days. Yikes! My last two mods took very little time in comparison. My "single point of contact" stated to hold onto any payment I might be tempted to send in and that we will likely be put on a trial plan. At this rate I may be able to cash out of the plan by the time the mortgage company approves us. I can dream.

Just to muddy the waters further my payroll became suspect as I received a fair amount of money that cannot be explained. Now because our pay stubs are online I saw it before I received it and called foul. That was December and I have called twice a week every week since and spoken to many departments to no resolve so do not know if it is my money or not. I certainly do not see where I earned it. The national HR manager was involved two weeks ago and still no answer. ARGH!!!!I understand the fact that I recently returned to work after an injury and that benefits payments become complicated, but in January I had $1300 taken when the base rate is $410. February was $1100 and my first March payroll was $500+. Nobody can give me a straight answer for all this and the underwriter at he bank for the modification is likely wondering too.

These dang ducklings just keep wondering off and my net seems to have holes in it.

[spidge]

Still in wait mode, but muddling along. We made our 51st payment today.

We are down to 9 payments and with this last one all priority, claimed arrears, and percent payback are complete. Focused on the base now. I asked about discharge with payback percentage satisfied but in our district the base must be satisfied in order to finish early. The mortgage company claims they have all they need from us in order to complete the Modification, but we are all waiting for the appraisal to be submitted. That guy came on Monday so hopefully we will get some good news on that soon. So the mod would bring the house current and my federal return this year will pay the last of what we owe the IRS from 3 years ago.

So now I get to make a hit list for other items;
Pay the fees for the AP to complete the strip.
Take the debtors course.
Complete the support paperwork.
Once these are done I can pound the plan and finish.

Things are slowly aligning, but the ants in my pants are uncomfortable.

Life will be good again, soon.

[mylife]

Thank you spidge for following up. We want out so we will be listing our house again soon. I followed up with my atty who said there is no audit, he would simply file the paperwork and voila discharged!

[spidge]

Mylife, I am sorry for your situation. If it has been a while I would try again. Rates are down and the timing might be ideal, but remember the offer would be based on your qualifying. In the letter and loss mitigation paperwork they stated that they would use the income and expense schedules originally filed in my ch13. They did also offer paperwork for me to share if my situation had changed. I went ahead and filled it out as I do not remember what figures were used and could not find anything here at home.

It seems like the bank is looking to do a total refi as they have checked my credit. Maybe they just want to make sure I did not obtain any new credit while in the 13 giving them cause to seek a relief from stay. No new credit here but I did have a mistaken medical bill go to collections.

By the way, if you have not checked your credit lately you might want to. It looks like rules have changed and our credit jumped 65 points recently.

[mylife]

Hi Spidge, that really concerns me as we've not paid our mortgage in about 6 months because the payment is unaffordable. In addition, we are not in a position where we are saving anything. We applied for another mod and was told our income was sufficient regardless of our expenses, considering submitting the paperwork again to see what happens. The only thing they offered was a payment plan which added $500 to our regular payment. Our house was on the market for a short sale but we took it off because the offer was too low and we wanted to wait until discharged.

[spidge]

Hi spidge, glad to hear about your progress!! We received a mod during our 13 and are now delinquent on our mortgage with only about 6 more plan payments. Does anyone know if the delinquency can come up on the audit and hurt our discharge?

The mortgage company will likely bring in up when they have their chance to raise a concern during the closing process. My district has started utilizing a form that states not only the fact the number of payments were made but actually breaks down each one to reveal when they were made.

How behind are you? Have you called your lenders BK department to ask for a solution? A call to your attorney may help too. If less than 30 days I would not be overly concerned, but bring it current before your last BK payment. No worries that way.

[mylife]

Hi spidge, glad to hear about your progress!! We received a mod during our 13 and are now delinquent on our mortgage with only about 6 more plan payments. Does anyone know if the delinquency can come up on the audit and hurt our discharge?

[spidge]

Sending modification docs tomorrow. I know they will need more than this packet requested but I will be ready.

10 payments to go and chomping at the bit.

[justbroke]

spidge, I'm so happy to read the latest news. I was concerned about a completely random audit because that would be concerning for any Chapter 13 debtor. I hope all else is working for you and that you make it through this next year without any more fanfare!

[spidge]

Whew

Thank goodness it was not an actual audit but rather an inter-office trustee audit that is done and the breakdown sent out to the debtor. 13Network had my status back to active a short time ago today, but NDC has not updated yet. I have noticed NDC seems to update over night so will expect it to be updated tomorrow.

Also, my lenders loss mitigation department is sending out info to help me bring the mortgage current. They stated we should be able to modify and that completing the steps will not put the ch13 at risk. Yea!!!!! Waiting for packet currently. A modification sure would be nice as I do not work nearly as many hours as I did in 2012. 2013 is a wash and I was on Workers Comp so cannot use that year for any comparisons.

It looks like the extra fees to do the AP for the lien strip will have to be paid outside the BK13, but once it is done I won't need the lender on the second to do anything as I will be able to record it myself with an order from the court. So even though expensive($2k) it will give me some peace of mind when complete.

Still feels like baby steps, but getting there.

[spidge]

Dang it!!!! Audits are back!!!!! Ask me how I know!!!!!!!!

@%&#!*!!!!!

Oh well. I have nothing to hide, but it still makes me a bit nervous.

Does anyone know if the auditor looks at the mortgage payments that are paid outside the BK13 plan? If so could they trigger more frustration before the lender and I strike a deal?

Maybe some good can come of it. With another payment and a half we will satisfy the percentage payoff, but not the plan base. Why the difference? I don't know.

[spidge]

Go Spidge!!! Go Spidge!!!! Sounds like you're back in control!! Way to go!

Close, but not until I have the mortgage paid on a regular basis again. I also have to get the new arrears outside the plan corrected.

Thanks to all who take a look and give encouragement.