Nervous - Mortgage Question

[Freddy03]

My plan is to file 7 - We were approved to have the 2 months that we are behind on mortgage pushed back to the end of the loan. I was suppose to make 2 mortgage payments this month. One on the 12th and the other on the 27th. Then the mortgage co is going take the next 3 months thru auto pay.

Well I received my letter from them reminding me of the payment for the 12th. They are usually super quick to withdraw the money (next day) well they still haven't taken it yet. I'm getting nervous what if that falls thru. What if they are accepting my payments. Then I'll really be behind.

So then I'm thinking I will have to do a 13. How does that work if you are behind in mortgage.

Thanks!

I'll call them on Monday but I need some reassurance till then.

[Pandora]

Whatever you do - stop the automatic payment deductions to your mortgage company and start paying it on your own. I personally have seen nothing but trouble come from automatic withdrawl when someone gets behind on their mortgage and then trusts the mortgage company to do as they promise.

As far as how it works in a Ch. 13 - you can add arrears into your plan, however you must still make your normal monthly mortgage payment as well on top of any arrears.

The bigger question is if you're planning on filing a 7 - are you planning on reaffirming the house, doing a retain and pay, or simply walk away? If you reaffirm the house and you become late again, there is no walking away for you after your discharge. If you plan on walking away - IMO you'll just be throwing the $ away you plan on playing catch up with.

[Freddy03]

Thanks - I just called the auto system and they have the payment posted for the 12th and says I just owe for the month of Aug so it looks like it just hasn't hit my bank yet.

I do not want to re-affirm the mortgage just the car. I do not plan on walking away from the house but can not predict the future so I would like to just keep paying the mortgage.

I'm pretty sure we will get the 7. I did auto pay with them in the past and they were fine. I'm a little surprised how well the mortgage co has been working with us. We didn't get approved for a modification b/c we are right at the 31%. But putting the 2 payments at the end will help me b/c now we are "caught" up and can file.

Thanks again!

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