If keeping hse are pmts made thru bk or self??

[klandsb]

I met with an attorney yesterday and he seemed to imply that my mortgage pmt would come out of my bk pmt ???? Is that normal.... I have some equity in my home although not alot and my income is decent enough to pay the mortgage but just not all the cc depts I accumulated going through a divorce.. Also, he said not to make my mortgage pmt due today 8-1 to save the money to pay the attorney fee... I have never not paid my house or car loan and dont want to be behind and have to try and make it up... (now credit cards havent been paid since last sept but that a long story) time.).. Was he correct in telling me not to pay.... I was thinking I could get the attorney fee's somehow even if I had to borrow from my son... Any idea's would be greatly appreciated !!!!

[walkthaplank]

Like most BK questions, it depends on your district. In my district I would only have to pay the arrears inside the plan while paying the mortgage outside of the plan.

[BNKRPTinNC]

Paying ours thru the plan.

[klandsb]

principle only or principle & interest

If you are paying through the plan is it principle only or both principle & interest during the 5 yrs ???

[falken]

If you are paying through the plan is it principle only or both principle & interest during the 5 yrs ???

p&i, it will be whatever your payment is now either way. If its in the plan and you are in a 100% you will also have the trustee fee % on top of that.

[BNKRPTinNC]

If you are paying through the plan is it principle only or both principle & interest during the 5 yrs ???

Boy I sure wish it was just principal. My understanding is that the bankruptcy laws can do nothing in regard to principal or interest on the first mortgage if you are keeping the house. I was able to get the second stripped.

[klandsb]

I also have a HELOC for around 22,000.. What determines is they strip the lien and add it into your unsecured debt ???????

[falken]

I also have a HELOC for around 22,000.. What determines is they strip the lien and add it into your unsecured debt ???????

Your house need to appraise for less than amount of the first mortgage. If so, you can have a hearing to strip the HELOC.

If your house is worth $200k and your first mortgage is $205k and your HELOC is $22k then the second can be stripped. If your house is worth $206k, no go.

[klandsb]

ITs a NO GO but thanks so much for the info...