Bankruptcy/foreclosure

[RSMITH]

HI TODD,
I HAVE A QUESTION FOR YOU THAT I AM HOPING YOU CAN HELP ME WITH.
MY HUSBAND AND I BOUGHT OUR HOME 10 YEARS AGO, WE TOOK A SECOND AND LATER ON WE HAD TO FILE BANKRUPTCY, CHAPTER 7. WE CONTINUED PAYING OUR FIRST MORTGAGE BECAUSE WE WANT TO KEEP OUR HOME AND SOMEBODY TOLD US THAT WE DIDNT HAVE TO CONTINUE PAYING THE SECOND BECAUSE WE FILED BK AND LIKE DUMMIES WE QUIT PAYING IT. NOW LAST WEEK WE RECIEVED A REGISTERED LETTER STATING THAT WE ARE IN DEFAULT AND IN 3 MONTHS THEY ARE GOING TO SELL OUR HOME. IT HAS BEEN 7 YEARS SINCE OUR BANKRUPTCY AND NOW THIS. CAN YOU PLEASE HELP ME. WE LIVE IN THE STATE OF CALIFORNIA BY THE WAY.
WHAT CAN WE DO IN ORDER TO KEEP OUR HOME?
THANK YOU
R SMITH

[HHM]

That is a dilemma. When exactly did you stop paying your second mortgage? Was it seven years ago? You can always file a chapter 13 to catch up on the arrears, assuming you otherwise qualify for a chapter 13 (i.e. have regular income in excess of your reasonable necessary living expenses.)

However, the important question is, when did you stop paying.