I was hoping for some advice, we went through chap7 about 5 years ago. Things have been tight since but we were doing fine and keep up with everything. We kept our home, got a few new CC for credit and even got a car loan. Well my work has been a little slower this year and my wife's business had issues but luckily we were able to unload that last year. Between all of that and some medical bills we find ourselves 2 months behind on the mortgage. Everything else is current, I figured Mortgage was already discharged so let that fall before other items. Maybe not ideal but I also figured the late fee on that $1400 is the same as the $260 car payment.
Anyway my question, I opted for a repayment plan last month and made my standard payment this month as requested but then the medical cost came up so I know we will not be able to make the inflated payment next month (and 2 additional) as the plan was standard this month then the next 4 months they added $800 to catch up. Called them and asked for HAMP paperwork to see about a loan mod. We are ok to make our payments but not the high repayment plan amount. We dont want to loose our home (not under, about $40k equity) but should I make my normal payments while I wait on HAMP? At worst if I can drag this out until March my refund should let me catch it all back up.
Anyway my question, I opted for a repayment plan last month and made my standard payment this month as requested but then the medical cost came up so I know we will not be able to make the inflated payment next month (and 2 additional) as the plan was standard this month then the next 4 months they added $800 to catch up. Called them and asked for HAMP paperwork to see about a loan mod. We are ok to make our payments but not the high repayment plan amount. We dont want to loose our home (not under, about $40k equity) but should I make my normal payments while I wait on HAMP? At worst if I can drag this out until March my refund should let me catch it all back up.