I'm current on my mortgage, they can't touch my house right?

[ecsclb1724]

just wanted to make sure, I am not late at all on my mortgage payments so they can't take my house right?

[BassBoy]

Correct. If you continue to pay each month and remain current, the lender will leave you alone. They want your money, not your house. :-)

[browneyes]

If your home equity isn't covered by exemptions, the trustee can force a sale, though, right?? Please someone chime in on this.

[Lajazz947]

If your home equity isn't covered by exemptions, the trustee can force a sale, though, right?? Please someone chime in on this.

Check with your attorney on this. Different states have different exemption amounts. For example in California I believe that I can exempt $75,000 of house value over and above the debt.

http://www.moranlaw.net/704.htm has a wealth of information.

[AngelinaCatHub]

Check with your attorney on this. Different states have different exemption amounts. For example in California I believe that I can exempt $75,000 of house value over and above the debt.

http://www.moranlaw.net/704.htm has a wealth of information.

Yes, Lajazz is right, in Florida, you would have no problem. However, I doubt that any Trustee, or Judge would cause you to become homeless if you can make just that payment. Do not show anything more than bare essentials though. Even though we are now discharged, we still are having financial problems, but we shall go forth. Things may get worse, and we will deal with anything. 'Hub

[joh]

What is current? If Due on the 1st late on the 16th is paying on the 8th ok or
do I need to pay on the 1st every time.

[LuciluS]

What is current? If Due on the 1st late on the 16th is paying on the 8th ok or
do I need to pay on the 1st every time.

There was a large discussion a couple of weeks ago regarding this subject. You can do a Search and read it.

The Main thing is read your Mortgage Agreement. If it states, you are not late until the 16th of the month, then IMHO I think paying on the 8th will be fine.

I receive SSD every 2nd Wednesday of the month. My SSD goes towards the monthly mortgage. Sometimes it's the 1st and sometimes it's the 14th. So far, the date for direct deposit hasn't been past the 16th.

With so many foreclosures, I don't believe a Mortgage Company wants a home where a Person(s) filed Bankruptcy and was late on their mortgage.

We are not filing until 9/30/09. I intend to call the Bankruptcy Dept. of our Mortgage Company as I will need the address to send our payments while we are going through Bankruptcy, as it is NOT the same address where you normally send your payments. I intend to discuss the issue of making our house payments after the due date of the 1st and will also follow up with a Certified Letter as to what I was told during the phone conversation. I call it CYA (cover your Arse).

Must say I've read hundreds of posts, used the Search button & asked several questions on this Forum. Gee when the Credit Counseling Co. told DH and I last Sept. we needed to see a Bankruptcy Attorney, I didn't even know the difference between a 7,11,13 or 20 bankruptcy. I feel very confident and know to have documentation/substantion for any Asset value or Allowable Expenses in our Bankruptcy.

Luci

[LuciluS]

Yes, Lajazz is right, in Florida, you would have no problem. However, I doubt that any Trustee, or Judge would cause you to become homeless if you can make just that payment. Do not show anything more than bare essentials though. Even though we are now discharged, we still are having financial problems, but we shall go forth. Things may get worse, and we will deal with anything. 'Hub

Hub:
I justed want to say Your Posts Are So Positive. They make me 'feel good' and realize our situation could be worse.

I almost lost my husband this past month as his organs were shutting down. He was off work for practically the whole month and I am 100% disabled but receive Social Security Disability. He didn't work at all last week as the Trucking Industry is getting hit pretty hard.

However, I truly believe the Man Upstairs has been looking out for both of us and we realize you just have to 'keep on trucking' as hubby says. We didn't spend all of our Income Tax Refund so we will be able to make it.

We are having to wait until Sept. to file Chapter 7. Because of the days I've spent reading this forum, using the Search button and asking questions, I feel very confident our Chapter 7 bankruptcy will 'Fly Through' the Court System.

I wish we were able to use Angelministries; however, the closest place (church) is over 25 miles from our home and being disabled I have good days and bad days & not sure it would be a 'good day' when order would be there.

Just like you and your DW, hubby and I contribute a large sum of monies to our Church. Even though we hit rock bottom last Sept., our tithing kept on and our Church family made it quite clear if we needed help we could use the Church's Food Pantry or the Clothes Closet. We both felt there were others in much dire situations than ours. However, the love and support has really been 'Our Rock'.

I truly believe we've been blessed as both of us had Major Medical Problems BUT we are both still Alive

Blessings,

Luci

[AngelinaCatHub]

Ms. LuciluS:

Thank you so much for the Kudos. My theory on life is; you choose your own day, you choose to be positive or not. "Happiness is a state of mind". Every day above ground is a good day, and (I forget the passage) there is a Biblical verse to this affect. psalms 118.24

Now, about Angelfoodministries, in our area, for those who cannot go to pick up their items, volunteers may deliver. I would call your closest outlet. The idea is feed, then if the people wish, they actually see, "good people". There is absolutely no preaching or coercing of any kind. There is also no questions asked or requirements to be met. People of all ages and wealth use this. The food is of high quality, but not gourmet. I would advise you to investigate this. Perhaps a two buck tip for gas would be asked or required. I am a customer, but so impressed I just may become a volunteer. It is that worthy. 'Hub

[Lajazz947]

Hub:
I justed want to say Your Posts Are So Positive. They make me 'feel good' and realize our situation could be worse.

I almost lost my husband this past month as his organs were shutting down. He was off work for practically the whole month and I am 100% disabled but receive Social Security Disability. He didn't work at all last week as the Trucking Industry is getting hit pretty hard.

However, I truly believe the Man Upstairs has been looking out for both of us and we realize you just have to 'keep on trucking' as hubby says. We didn't spend all of our Income Tax Refund so we will be able to make it.

We are having to wait until Sept. to file Chapter 7. Because of the days I've spent reading this forum, using the Search button and asking questions, I feel very confident our Chapter 7 bankruptcy will 'Fly Through' the Court System.

I wish we were able to use Angelministries; however, the closest place (church) is over 25 miles from our home and being disabled I have good days and bad days & not sure it would be a 'good day' when order would be there.

Just like you and your DW, hubby and I contribute a large sum of monies to our Church. Even though we hit rock bottom last Sept., our tithing kept on and our Church family made it quite clear if we needed help we could use the Church's Food Pantry or the Clothes Closet. We both felt there were others in much dire situations than ours. However, the love and support has really been 'Our Rock'.

I truly believe we've been blessed as both of us had Major Medical Problems BUT we are both still Alive

Blessings,

Luci

Man oh man, I wish you both good luck. I have a book called " Prayers that avail much " that is my source of daily inspiration and I get my monthly dose of spiritual enrichment through my monthly visits to my pastor in Sacramento.

I feel lucky to just have financial issues to deal with.

I will say my own little prayer for you

[LuciluS]

Man oh man, I wish you both good luck. I have a book called " Prayers that avail much " that is my source of daily inspiration and I get my monthly dose of spiritual enrichment through my monthly visits to my pastor in Sacramento.

I feel lucky to just have financial issues to deal with.

I will say my own little prayer for you

Lajzazz:

Thank you so much for the Prayers. Reading this forum inspires me as others are losing their home and/or their vehicles. Although, I don't know their real names (which I truly understand why) I always include them in my Daily Prayers and am thankful for the 'material things' we will be allowed to keep.

Going through this process of Bankruptcy, mainly due to high medical costs for the past 5 years, has drastically changed the way DH and I live out our remaining years. Dh said not to long ago as long as he had me as his wife, our Shih Tzu & a roof over our heads, he would be Content.

Filing Bankruptcy is legal & it's not an easy time in someone(s)' life. I hope the 'Stigma' associated with BK will/has changed in the eyes of those who have not walked in our shoes.

I've kept up with your BK and, pray in the end, You will Prevail and remember those who abuse the Laws of the Land will eventually Pay for their Illegal Acts.

Luci