I think I have a BIG problem...

[hcii]

Here's the deal...

Decided I had to file BK (chapter 7) near the first of July. Saw the BK attorney, and got together all paperwork that was needed. After rounding all of that up, and the law office typing it all up, just now got filed 45 days later. I was current on all secured debts at that time.

Now, due to a small medical emergency, and....my bank seizing all my checking for a unsecured credit line I had the day before filing, my las 2 mortgage payments have not been paid. It is going to be around 30 days before I can gather up enough money to be current.

Am I doomed concerning the mortgage? I do not want to lose my house. If I can get back to current in the next 3 or 4 weeks, before the 341 meeting, will that cure my problem?

This is all so depressing and shameful. My fault for leaving money in my checking account, I guess.

What are my options? I have nowhere to borrow that kind of money.


hcii

[alh]

OK, just some general thoughts. You are basically OK. The 341 meeting really has no bearing on any of this. The BK filing gives you some time extra time to get caught up on your mortgage as the automatic stay goes into effect. The bank will get it lifted, but that takes some time. Yes, you will need to get caught up on your payments, but you are not "under the gun" in the sense that you have only 30 days.

Did you file pro se?

[hcii]

No...I filed with an attorney.

He is out of town today, and this just had crossed my mind. I knew that one could make up missed payments if they filed 13, but I didn't know whether one could with chapter 7. I was getting a little worried.

I just didn't want the bank to get the BK notice, and since I was late, immediately start foreclosure or refuse to let me reaffirm...

Thanks for the response. I can get caught up in the next month or so. Especially since I am no longer paying the unsecured CC's. I just want to keep my home and car, that's for sure. I can make the payments on them very easily if I can get the rest of this load off me.


HCII

[alh]

If you talk to the bank they may even be able to put the payments onto the end of the loan or divide the past due amount over a couple of payments. It might be worth asking.

The bank CANNOT start any kind of foreclosure at the moment. They would have to get the automatic stay lifted and even then depending on the state you are in there are a number of steps they have to exactly take that can take several months.

[Jman30]

Yes, having an automatic stay lifted in a time consuming process. First, they have to file it with the court. Then your lawyer will file a response. Then the court will set a date for a hearing, normally months ahead of time. Ford Credit tried that with my car and the whole process took 4 months.

[bkadv]

Hmmm...I just haven't figured these mortgage companies out yet where bk is concerned. We called our lender to ask to do a "skip a payment" for a month and were told that since we were in bk that we could not be more than 30 days late or their attorneys would be contacting us. Then we'd have attorney fees among other fees. We assumed that meant that the house would go into foreclosure. Luckily we were able to make the payment.