Need some advice -

[tobee43]

well, i all i know is the trustee never asked us what we did with the money after be stopped paying our mortgage, NOT to say that question may not come up, however, i know our trustee what looking at what we filed and that was it.

i really don't think you are going to have a problem since you are filing 7/1.

[Freddy03]

we were never asked. but then again we filed AFTER we moved, so IF we were asked it all went into moving expenses.

remember, when you file it's actually a snapshot of what's goinig on at the time of filing. keep that in mind. i would just say you are awaiting a loan mod???? and, were not allowed to pay the bank at the time of the loan mod...(which was the TRUTH in our case). then since the loan mod didn't work we used it for moving expenses????

how long is it before you can file????? can you wait, and i KNOW this would really kill you, but can you wait it out until the actual move????....or better yet, go rent the place now!!!! and start slowly with the transaction that way you can show the move on paper??? just throwing em out there!!

I don't want to move now b/c if I could stay "rent free" for a while that would be ideal. I need to file ASAP b/c Dh's wages are being garnished and July 15th the judgment creditor can start attacking any bank accounts they find and they have already sent in for my wages to be garnished. So I'm going to file 7/1.

[tobee43]

Quick question - since I'm not paying the mortgage - how do I justify having that extra money at 341 time? Or do I have to spend it down before then?

Thanks!

we were never asked. but then again we filed AFTER we moved, so IF we were asked it all went into moving expenses.

remember, when you file it's actually a snapshot of what's goinig on at the time of filing. keep that in mind. i would just say you are awaiting a loan mod???? and, were not allowed to pay the bank at the time of the loan mod...(which was the TRUTH in our case). then since the loan mod didn't work we used it for moving expenses????

how long is it before you can file????? can you wait, and i KNOW this would really kill you, but can you wait it out until the actual move????....or better yet, go rent the place now!!!! and start slowly with the transaction that way you can show the move on paper??? just throwing em out there!!

[Freddy03]

Quick question - since I'm not paying the mortgage - how do I justify having that extra money at 341 time? Or do I have to spend it down before then?

Thanks!

[tobee43]

yes, good idead, then have them tell you what's missing...buys some time...great news, you'll be fine, i know it!!

i know our phone down here in florida allows us to put a block on numbers. that may help with all the incoming calls for a while?

[Freddy03]

Thanks again for the well wishes everyone

I cancelled the HELOC payment on Friday and since then I have received over 25 calls from them! I'm not answerin the phone. I am going to fax the loan mod papers today but I do not have the requested documents so I'm just going to send it anyway.

I will be taking the pre-counseling course this week and meet with my attorney on Friday for means test and finally paperwork. I have a file date of 7/1/11!!

[tobee43]

oct99!!!! sooooooooo nice to C u!!! and that is such great advise! and i'm so glad things worked out for you!

[october99]

Hey Freddy! GL with the upcoming filing I think you've made a great decision and gotten some good advice. I just wanted to let you know that I stopped paying and surrendered and we still used the mortgage amount as my housing cost for the bk. I also found a wonderful rental home while the bk was still open post-341. I found the home on Craigslist and rented directly from the owners. I was upfront about our bad credit situation and the owner only cared that we had verifiable income.

I hope it all goes smoothly for you!

[tobee43]

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

you know you're always welcome!...pandora too!!!! she's a "Honorary Floridian", actually ...hehehehe!!!


orgeonpt.....what??? i'm on break and don't CCCCCC u!!!! LOL!!!!

[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!!

[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]

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

[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]

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]

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...