help/info re: reaffirming mortgage

[purechaos]

I am in the early stages of filing C7 at this point I have only met with and retained an attny.

The only secured debt I am going to reaffirm is my home mortgage. MY house is new and I have a fixed rate FHA loan 6 years in to 30.

I was discussing BK with a friend who filed and he told me that I will need to be current if I want to keep the house, but he filed 10 years ago and I thought things might have changed.

I have been between 30 and 58 days late for the last several months. I was trying to cover alot of other bills at the same time. one of which was a vehicle that I am currently $10k upside down on with a high APR. We have decided to let the vehicle go but want to keep our home.

I am currently slightly behind on my mortgage. I owe my March 1 and April 1 payments. I am planning on paying my march 1 payment this week.

Do I need to be current before my petition is filed?
Will the delinquency affect my ability to reaffirm?
Do I need to be current in late fees also? I currently owe about $200 in late fees.

I am filing in Indiana, and dont exceed the exemption.

[HHM]

Please use the forums "search" feature for reaffirmations, there have been numerous threads on the topic.

Your friend is correct, if you want to KEEP an item of secured property AND file chapter 7, you need to be current on payments (IN FULL) going into the chapter 7, and remain current.

[purechaos]

thanks, I actually tried to search but after looking through most of the threads relating to keeping a house i couldnt find a real answer.

I did find more questions though...

Do I have to reaffirm my mortgage to keep my house? do I have to declare if i want to keep it or surrender it? or can I just keep making my payments and move on? by filing it is going to free up funds that we had to allocate to dr bills (primary source of financial distress) and our vehicle payment.

sorry for the stupid questions, my attny is on vacation through next monday i and i am trying to plan the next few weeks.

[keepmine]

Some lenders {and districts} allow a ridethrough {no reaffirmation-just keep paying} others don't. This is a question your attorney will have to answer.
You need to be current when you file. Stop paying all debt you wish to discharge and use those funds to catch up the mortgage and the late fees.

[purechaos]

n/m i am financed through countrywide and found this thread

http://www.bkforum.com/showthread.php?t=18499&highlight=countrywide

[purechaos]

thanks keepmine and hhm

looks like a ride through is what i will have to do. like i said my atty is on vacation and i am trying to plan the next couple of weeks and allocate the income i receive this week appropriately.