Making our mortgage payment

[patches]

We had our mortgage modified before we filed bankruptcy, actually last February. Since we just filed on Sept. 15th, 2010, how will that affect our mortgage? We have the payment drafted. I read a thread where someone was saying the mortgage company stopping drafting the payment.

That prompted me to visit our mortgage company's web site and there was no place for me to set up online payments, only add a bank account, which I did. After looking around I found something, clicked on it and it told me in a big red box that I was not eligible for online payments. Why do they do this? Is it some punishment to make paying more inconvenient or are they trying to make you late? Why do they take the drafting away?

I am not sure what to do as it is the 26th today, our payment normally comes out on the first and I don't know if it will or not. My husband is going to call them tonight - it's Citi Mortgage and apparently they have people available on Sunday.

I am now wondering what I don't know. It appears there are some significant things I was not informed about. I almost directed my tax refund to our accountant-which I won't be doing now.

Our telephone interview is this Tuesday morning. Does anyone know how long that call takes - is there an average? I am nervous about it and after reading here I asked our attorney if we should have representation for the phone call, he said it wasn't necessary, but that if I wanted to, I could call his secretary and make arrangements to go to his office to make the call. We thought about it and decided to just do it from home on our own. We have nothing to hide so I think I am just nervous as to what kind of questions to expect. Our lawyer said financial questions from the petition. That's pretty general.

Apparently our trustee is fair, but is a stickler for having the estate value paid within 3 months. This is stressing me out in a major way as well.

Anyway, I am now worrying about the mortgage payment due in 4 days and how to handle that or if I even need to. Maybe I am over reacting from the stress of everything. I feel like a ferret, I have to search out what I possibly don't know so I don't make a huge mistake and have to suffer for it.

[scorpion35]

i think it has to do with the bankrupcy stay
they don't want to mess anything up
i think once u are discharged they will allow u to make payments only once again.but i am not sure
can't u make the payment at a local branch?

[patches]

There are no branches near us. Just ATM's at store locations such as grocery stores etc..
I would think we should still be able to at least mail them our payment. We are voluntarily paying it,
they are not coming to us to get a payment. We plan on keeping the house and I don't want to
miss a payment and have them have the right to move to accelerate the loan.

[IBroke]

There are no branches near us. Just ATM's at store locations such as grocery stores etc..
I would think we should still be able to at least mail them our payment. We are voluntarily paying it,
they are not coming to us to get a payment. We plan on keeping the house and I don't want to
miss a payment and have them have the right to move to accelerate the loan.

I'd say mail them a payment by certified mail, return receipt requested (CMRRR). We are currently having some issues with our HAMP-modified mortgage as well. Although it is not involved in BK (it's my Mum's mortgage), they suddenly stopped sending statements and we can't make online-payments either. Since then, every payment is mailed in by CMRRR - we are not taking ANY chances!

[patches]

The payment address is a post office box. I don't think we can send CMRRR to a PO box. I don't have any other payment location, phone number or name of any individual to be the recipient. :-(

[drowning123]

Patches, I'm depending on you son . . . . Sorry, I just had to. :-) Once you file, all ACH's stop. Banks are afraid to take payment because they don't want it to seem like they're violating the automatic stay. They may not even want your check at this point. You will have to speak with someone or get something in writing to the effect of "debtor is making voluntary payments." Same thing happened to me. They didn't even want my payments. My mortgage company, however, sent me a letter asking if I wanted them to stop sending statements and I didn't respond. I wanted them to continue, even though I've surrendered the house. Good luck.

[patches]

I will contact our lawyer to see what he can do to expedite this for us.
I wonder, does the bank where we have our checking account (not our mortgage company) get apprised of our bankruptcy filing?
We have a business and business accounts there also. I guess they will be aware of it right? *sigh*

[drowning123]

Are you including any accounts from this bank in the BK? If not, I wouldn't worry about it. They may know, but they won't close your accounts.

[patches]

No, no accounts from this bank, it is a local bank, not one of the big guys.
Thanks for sticking with me here drowning123, I appreciate it.

[discouraged]

Once you find out where to send it (or if you should), you could do an overnight express mail. Costs a little more but peace of mind is priceless.

[patches]

I'm getting a little confused reading some threads here.
We had a mortgage modified. We waited to file until that was completed and it was last February.
We just filed on Sept 15/10.
I was told that many mortgage companies are not doing reaffirmation agreements.
Yet, we were also told if we want to keep the house and we do want to, that we should continue to
make the payments.
Without a reaffirmation agreement can the bank force a sale or foreclosure under the bankruptcy?
We have an exemption that applies to our home and we are well within it.
We don't have to give up the house without a reaffirmation agreement - if the banks are not doing them as a matter of course
do we? I was told they don't want to bother with the cost and the paperwork and that we should just keep paying.
I'm confused, bet this post looks like it too! ;-)

[IBroke]

The payment address is a post office box. I don't think we can send CMRRR to a PO box. I don't have any other payment location, phone number or name of any individual to be the recipient. :-(

You certainly CAN send CMRRR to a P.O. Box. I have done that already quite often. Actually, the address of our lender of the mortgage is a P.O. Box as well.

As far as I know, they leave a notice for the recipient to pick it up.

[missjean]

My husband and I had our mortgage loan modified in November, 2009 and filed for chapter 7 in July, 2010. Chase (our mortgage company) closed our online account and stopped our ACH as soon as they were notified of our filing. We got a letter from them within one week of filing advising us to call their office. After speaking with a representative, we were advised that if we were planning to keep the house (which we are) they would send us a new ACH request form (which they did immediately). We mailed the August, 2010 payment to the address that the representative provided, and the debit from our checking account resumed in September. Chase mailed a reaffirmation agreement (which we signed and returned) and our reaffirmation hearing is on October 5th. We never questioned them about the reaffirmation agreement because we basically filed for bankruptcy in order to make sure that we would have enough money each month to make the mortgage payment! And, our interest rate after the modification was lowered to 2% for the next 5 years; no way can we beat that! I don't know if Citi works the same as Chase but I would advise you to try to speak with a representative in their bankruptcy department. They can give you all of the answers that you need. And try to RELAX!!!!

[tcreegan]

Hi patches,

Without a reaffirmation agreement can the bank force a sale or foreclosure under the bankruptcy?

Not according to 11 U.S.C. §541(c)

But they can require you to do one of these three options: get a reaffirmation, surrender the property, or redeem it.
But if it goes past 45 days after the 341 meeting, you don't have to do any of the three. Then 11 U.S.C. §541(c) applies
If you sign a reaffirmation, you can rescind it anytime in the next 60 days or before the discharge. Then 11 U.S.C. §541(c) applies

Of course 11 U.S.C. §541(c) prevents foreclosure/repossession if you are current, have insurance, abiding by all the terms of the contract.

Ask your lawyer about 11 U.S.C. §541(c), seems like some attorneys are well aware of this, some have never heard of it or don't know how it applies.

Tom in Colo

[SunkShip]

I couldn't pay my mortgage online, and could not pay it in the local Bank of America branch, and I was very close to the payment date so I called the phone number on my statement and they were able to take my payment - check by phone- with no additional fee. It's worth a quick call to see if your bank will do the same.