Woo Hoo I'm filing!!

[Freddy03]

April 25th will be my filing date!!

I have talked it over with the DH and we have no other choice but to file and be late on our mortgage. We just can't afford to have his wages garnished and still pay regular bills.

So I'm sure I'll have a ton of questions (again) from now until the 25th.

When I file I will not have paid March or April mortgage. I might be able to pull off paying both in May. I know this is not ideal since we are NOT reaffirming the house.

Can anyone tell me what to expect? Should I contact WF now and tell my plan? Do you think they will try to FC right away? I'm in FL and 100K underwater. We do have a HELOC with WF for 12K. I am current with that. Should I stop paying that and try to settle?

I would like to try and work out a loan mod for the first but they won't even talk to me until I'm over 60 days late. Any advice??

I'll be going threw my bags and bags of papers/receipts/junk this weekend and filling out our BK paperwork.

[AngelinaCatHub]

Well it's about time

Now Freddie, you've been here a long time and have giving the same advice as you are asking for. Of course we will help but you are not a newbie. Once the bk applies to yourself, does the mind go blank? LOL.

Why you are one of the best posters here. Of course stop all payments once filed. Preferential and don't pay on the house of you are not keeping it. All of these things you have posted about yourself. BTW Freddie, I sure did think you were the DH not the DW from your avatar and posting rhetoric.

Good luck from all of us and the 'Cats too. 'Hub and Mrs.

[IamOld]

All best wishes Freddy!!!!!

[Freddy03]

Now Freddie, you've been here a long time and have giving the same advice as you are asking for. Of course we will help but you are not a newbie. Once the bk applies to yourself, does the mind go blank? LOL.

Why you are one of the best posters here. Of course stop all payments once filed. Preferential and don't pay on the house of you are not keeping it. All of these things you have posted about yourself. BTW Freddie, I sure did think you were the DH not the DW from your avatar and posting rhetoric.

Good luck from all of us and the 'Cats too. 'Hub and Mrs.

LOL I know I'm drawing complete blanks here..

I want to pay and stay so I will continue to pay on the house. We just aren't ready to let the house go just yet. Ideally I would like to pay and stay for 5 or so years.

I'm sure after my shock of finally having a filing date my months of questions here will come back to me....lol

I'm just worried if WF would start the FC process being late at filing time. I guess time will tell

[Pandora]

Freddy - you'll be fine hun. Stop paying the 2nd and use that $ to pay the 1st / other bills necessary. Being 100K upside down and a 2nd of only 12K..I dont think they'll do anything but sit.

Onward and upward!

[Freddy03]

Freddy - you'll be fine hun. Stop paying the 2nd and use that $ to pay the 1st / other bills necessary. Being 100K upside down and a 2nd of only 12K..I dont think they'll do anything but sit.

Onward and upward!

Thanks! I didn't pay the 2nd which was due on the 1st b/c I thought DH's check would have th garnishment taken out but thankfully it didn't. They (WF) have called me 6 times this morning!! Geez I'm not even passed the grace period yet.

[IamOld]

Thanks! I didn't pay the 2nd which was due on the 1st b/c I thought DH's check would have th garnishment taken out but thankfully it didn't. They (WF) have called me 6 times this morning!! Geez I'm not even passed the grace period yet.

Don't worry WF will call you around 12 times per day with dozens of phone numbers! :-)

[Freddy03]

Don't worry WF will call you around 12 times per day with dozens of phone numbers! :-)

LOL Yeah I'm noticing that. Time to turn off the ringer again.

[csonly]

Freddy - We are currently in a stay and pay situation after being discharged last month. As others have said, I would stop paying your second, that should help a little with your other bills. As far as the first mort, I don't think they will do anything to foreclose, but I'm pretty certain the mortgage co will file a motion to lift the automatic stay. This happened to us as soon as we hit the 30 day late mark. This seems to be a formality these days and probably more of a scare tactic if you ask me. But, big deal, just try to get caught up ASAP for your own peace of mind. Think of it this way, say you are 2 months behind on your mortgage, something unexpected happens, you miss another mortgage payment, then you are 3 months behind and I believe that can lead to a problem. If they do file a motion for the stay to be lifted, they may make you pay the legal fees, etc. As far as telling them, me personally, I wouldn't. They'll find out soon enough. We also took our mortgage payment to pay the attorney fees so we could file, so pretty much in the same boat as you and it all worked out fine for us (so far so good). I have car loans with WF and they are a PITA, they don't care about the grace period, 1 day past the due date, they called. Good luck, I'm sure it will all work out for you.

[Floridagail]

We stopped paying our mortgage first and and second in June 2010 still no action. Still live here saving our money for move someday in next 2 yrs I guess.

[Freddy03]

We stopped paying our mortgage first and and second in June 2010 still no action. Still live here saving our money for move someday in next 2 yrs I guess.

What's the mortgage co? Do you have equity?

See this is one of my big issues - If I knew for sure I'd have 2 years of no mortgage company I'd def stop paying now but with my luck right at 90 days they come kick my butt out...LOL

[Freddy03]

Question: I guess my attorney can answer this but I've bugged him enough on Friday..lol

Since I am not going to reaffirm my mortgage what gets checked on my paperwork? Surrender?? Won't WF see that and think I'm wanting them to FC? Or does nothing get checked off?

[discombob1]

Wow... looks like it took you some time to decide . Good things come to those who wait I guess. Good luck on your journey, at least you have the forum to see you through!

[Freddy03]

Wow... looks like it took you some time to decide . Good things come to those who wait I guess. Good luck on your journey, at least you have the forum to see you through!

Thanks I would have liked to wait until July to file but the judgment/garnishment is forcing me to file earlier. DH received a higher than usual bonus in Dec it's putting us with a slight positive DMI and we are over the median filing in July would be better for us but.... I'm going to bite the bullet and pray we are scrutinized to bad.

[panda]

On our papers I think it was something like "Other" checked, then typed in retain and pay. This was within the software that the attorney was using, as I had not seen it on the regular paperwork I had been down loading from the US Bankruptcy site. I kept wondering how on earth this was going to work as we were not reaffirming nor surrendering, and I just about jumped with joy when I saw how it was done. Keep in mind I am in a different state than you, but apparently that is the only way my attorney does the mortgages that anyone wants to keep, plus we needed the house payment to pass the means test, so surrendering at that time did not work for us. After the discharge we made the final decision to walk from our house, but not until then.