Making our mortgage payment

[btbeme]

You will receive nothing from the bank but an almost blank form after filing - your usual mortgage statement can only be reinstated after you and your attorney agree to do so. There will be no minimum payments, no balance, no numbers at all, really, on your statement going forward - unless you ask them to reinstate the regular statement. The bank will contact you with a notice that they received your filing, that they are complying with the automatic stay, and that any payments would be voluntary.

Look closely when you get this form - it will likely have a different payment address on it. You can also call the bank and request to speak to their BK department - they will take your call and let you know what to do "if you choose to do so."

I can guarantee that automatic drafts will end immediately.

[patches]

No, it isn't a 341 meeting on the phone, it is a pre-341 interview wherein questions are asked and documents are requested.
The questions were things like, what would we say was the reason we ended up facing bankruptcy, and do you rent a storage locker,
do you have any stocks, bonds, ira's, are you storing property with anyone, how long have you lived at your current property, are you
buying it, do you want to keep it, do you want to reaffirm the mortgage, etc.
We were then handed off to the trustee's clerk who requested copies of drivers license, social security, vehicle titles, insurance,
warranty deed and the last two months bank statements. These documents we need to mail to them within 10 days.

We are in central Florida and apparently, these pre meeting phone interviews are pretty routine.

[Freddy03]

Ok - I gotta ask this - you are having your 341 via telephone and your attorney isnt going to be present?

Holy crap....

I was thinking the same thing.....lol

[Pandora]

....

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.

Ok - I gotta ask this - you are having your 341 via telephone and your attorney isnt going to be present?

Holy crap....

[drowning123]

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.

You are very welcome, and call, call, call your bank. That's the fastest way to find out what to do.

[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.

[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

[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!!!!

[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.

[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! ;-)

[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]

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.

[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]

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]

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.