Need some advice -

[tobee43]

pandora and i are on the same wave....did you stop payment on the check...( i hope i hope) or ..actually what do you mean by withdrew the money???

also, when we filed the mod loans were not even addressed by our trustee, however, sometimes the trustees now ask to see if you and your bank are working together. i do know people who were in a loan mod...made 3 payments and then quit making the payments....and started the process all over again!!!!! talk about a stall tactic!! but it worked for them for over 2 years!

i agree with pandora, and talk to your atty about what is the best approach to the situation.

[catleg]

A stop payment costs money too; however the NSF you will be hit twice since they typically try to redeposit after a day or two.
You can list the bank account debt from NSF's on your chapter 7.
Just make sure you don't have direct deposit into there and open a new bank account someplace else (preferably remote) before you get reported to chexsystems if that happens (never happened to me).

[Freddy03]

ack freddie - you withdrew the money? You'll be hit with insufficient fund charges by your bank as well as the mortgage co Should've just put a stop payment on it and paid the fee to do that...I'm sure that was much cheaper than overdraft fees hun.

As to the mod paperwork: make sure you know upfront if they're going to require trial payments before they continue to process the paperwork; talk with your attorney how best to proceed with that if thats what they do.

At any rate - I think not paying the mortg. any further is the best scenario for you Hang in there ... it will get better!

Thanks - It costs me $30 in an return item fee and $39 to stop the payment. Also I have never had any return items fees in this account so the bank rep said the first one is on the house..LOL

[tobee43]

Thanks - It costs me $30 in an return item fee and $39 to stop the payment. Also I have never had any return items fees in this account so the bank rep said the first one is on the house..LOL

oh!! good, i was really hoping that was the case!

[Pandora]

Whew! Glad your bank has a "gimme" for first offenses Now just make sure you know how the fee for the other lender will work (if there is one...)

[Freddy03]

Also because it was set up over the phone the bank couldn't guarantee me that it wouldn't process even with a stop payment so I thought this was a better choice.

[Freddy03]

Whew! Glad your bank has a "gimme" for first offenses Now just make sure you know how the fee for the other lender will work (if there is one...)

I guess I'll have to pay the 2nd one but I'm ok with that.

Does it matter about the lender since I'm not paying them anymore? Also I have always been late with WF and they have never once charged me any type of late fees.

[Pandora]

The mortg. co will assess late fees / penalties I'm sure. Many state "after XX of month payment goes to $XXX", from there I believe it can be a per day fee. Something you need to check on; look at your statements/bill and see what it says (flip it over too if anything is on the reverse) as well as go to their website and read what's what as to late payments.

ETA: It shouldnt matter if they do put fees / penalties in since you plan on renting another house. If however, you decide to stay there (mod approval) then the fees should be tacked onto the end of the note, but I'd fight to get them waived if you end up getting HAMP. In-house mod is a different ball game though... fees will probably stay.

[Freddy03]

The mortg. co will assess late fees / penalties I'm sure. Many state "after XX of month payment goes to $XXX", from there I believe it can be a per day fee. Something you need to check on; look at your statements/bill and see what it says (flip it over too if anything is on the reverse) as well as go to their website and read what's what as to late payments.

ETA: It shouldnt matter if they do put fees / penalties in since you plan on renting another house. If however, you decide to stay there (mod approval) then the fees should be tacked onto the end of the note, but I'd fight to get them waived if you end up getting HAMP. In-house mod is a different ball game though... fees will probably stay.

Unless I can get a mod to reduce my payments of $500 or more I would not be staying as it costs me right now - over $2000 a month to stay in this house.

My main concern is the time frame the FC process will take after BK. Right now I have not received any phone calls or letters from the lender even being over 60 days late. I have only been making payments to the home preservation department. My last "true" payment made to them was May 10th.

I did take a look this morning at the county court website and found an attorney who files a lot of FC with WF and tried to get a time line from there. The shortest time I found was 6 months from when the Lis Pendens was filed to sale date. Now I couldn't find any parties that had a BK so I'm nervous on that.

[tobee43]

when i hear about some of these "deals" with the loan mods...there are more than a few things to consider before signing on the dotted line.

while you pick a number...i.e. like the $500 freddy's pointed out, some banks tack it all at the end of the loan, which makes it longer and higher interest in the end. and or, one files bk, doesn't include the house does the loan mod, is happy and all of a sudden, a job loss etc.

so, IM humble O...i just think one needs to zoom in on a "comfortable" number they can and could live with forever and a day. i know that's difficult, but i have known people that did the loan adjustment only to go into foreclosure a year down the road ect.

however, the first thing is deciding whether you really really REALLY want to keep the house, or is this an opportunity to walk away from a home your underwater on and will be forever and more importantly, will you always be able to afford the expenses of the house on a long term basis. just a thought or two...or three...

[Freddy03]

Yes agreed Tobee -

I do not want to stay here long term. I'm sure they aren't going to lower my mortgage payments much (if any).

I hope they just lay low for as long as possible.

[tobee43]

Yes agreed Tobee -

I do not want to stay here long term. I'm sure they aren't going to lower my mortgage payments much (if any).

I hope they just lay low for as long as possible.

me too, or you can always come on over and stay with us for a bit...we can try every pizza place within 100 miles !!

seriously, my friend, i know it's all going to turn out just fine for you. heaven knows the past many months have certainly been such an emotional roller coaster for you. just hang on!!! all of this will soon pass!!!

[Freddy03]

me too, or you can always come on over and stay with us for a bit...we can try every pizza place within 100 miles !!

seriously, my friend, i know it's all going to turn out just fine for you. heaven knows the past many months have certainly been such an emotional roller coaster for you. just hang on!!! all of this will soon pass!!!

Thanks! Hey if I'm FC'ed on within 90 days I might just show up at your doorstep with kids in tow...LOL

[oregonpilot]

hey there Freddy.....actually been working this week so just catchin up on how things are goin for you.
wishing you the best. also glad you found an atty that will work for YOU.

[Freddy03]

hey there Freddy.....actually been working this week so just catchin up on how things are goin for you.
wishing you the best. also glad you found an atty that will work for YOU.

Thanks so much!!