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mortgage screw up, what should I do?

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    #1

    mortgage screw up, what should I do?

    Ok, I have a problem, and someone here at work said it could really screw my BK up. I haven't been late on a mortgage payment in a year. June 12th, I cashed in an $8,000.00 being held as security on my mortgage. My loan office told me I needed to pay down $1,700.00 in principal with it, and the rest was mine. What I did was pay $3,000.00 even and put the rest on my car payment. The reason for all this was to show it used, when it's time to file BK in June.

    I got a call yesterday from my bank, telling me I am late with my June payment, and I can't pay them 2 full payments, when I get paid Friday. I was under the impression $425.00 of that $3,000.00 was my June payment, but they didn't do it, and said they can't now. It'll probably take me 2 months, to get current. How bad will this look with I file(CH.7)? My take home pay is $850.00 every two weeks, and I am making my July mortgage payment Friday, but if I make both, I have $0 for 2 weeks. Anyone have any ideas?
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    #2
    Originally posted by CurtInKS View Post
    It'll probably take me 2 months, to get current. How bad will this look with I file(CH.7)?
    Bummer . Unfortunately if you want to keep your home, when you file Ch 7 your mortgage payments must be up to date. You will have to delay filing until your mortgage payments are current. Sorry to be the bearer of bad news
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !
    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #3
      Originally posted by lrprn View Post
      Bummer . Unfortunately if you want to keep your home, when you file Ch 7 your mortgage payments must be up to date. You will have to delay filing until your mortgage payments are current. Sorry to be the bearer of bad news

      That's what I thought. Thanks...

      Comment

        #4
        Have you already filed?

        I ask because it appears you filed in June by your OP.

        Did you file with a lawyer?
        May 31st, 2007: Petition Filed by my lawyer
        July 2nd, 2007: 341 Meeting Held
        September 4th, 2007: Discharged and Closed.

        Comment

          #5
          Originally posted by JRScott View Post
          Have you already filed?

          I ask because it appears you filed in June by your OP.

          Did you file with a lawyer?

          I am planning to file early September, after my daughter is born.

          Comment

            #6
            Not sure if anyone is interested, but I spoke with my attorney about this, and he's actually into it, with my bank. He said they are ripping me off, and this is simply a matter of accounting, they should take care of.

            Comment

              #7
              Originally posted by CurtInKS View Post
              Not sure if anyone is interested, but I spoke with my attorney about this, and he's actually into it, with my bank. He said they are ripping me off, and this is simply a matter of accounting, they should take care of.
              Well that's certianly interesting and good news for you. In a way. Not so good they are ripping you off, but good that you are not behind.

              Keep us posted!
              "Try to save money. Someday it may be valuable again." - Anonymous

              Comment

                #8
                Got it cleared up today! Thank God for my attorney. I was going to let it rest, because I thought I was stuck, but my best friend worked as a loan office, for about 5 years, and now is a federal bank examiner, and so I gave him a call, to see if I had any leverage with this bank. He said yes, told me what to tell my attorney, and he took it from there.

                Comment

                  #9
                  Glad this worked out .

                  Good thing your lawyer and friend were able to help
                  May 31st, 2007: Petition Filed by my lawyer
                  July 2nd, 2007: 341 Meeting Held
                  September 4th, 2007: Discharged and Closed.

                  Comment

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