Surrendering home in chapter 13

[debcon703]

Hello new here and would like to get some info. Have an active chapter 13 case and have bein in it for over 2 yrs. and My home payments are included in the plan payments. I am thinking about surrendering the home due to the fact the morgage co put us on an escrow account and now we are even more in the whole then when I first began the case. And at this point I am still a year behind on the home payments. Any help would be great

thanks

[Flamingo]

You now need to be talking to your attorney about your situation as you are in an active Chapter 13 which includes your mortgage payment and also your back missed payments. If you cannot make or have a hard time making your plan payments your expenses have increased, you are having a hard time staying in your budget due to the lifestyle change involved or you cannot actually afford your home. Anytime you have financial changes in a Chapter 13, contact your attorney immediately.

[debcon703]

Thanks

Hey thanks Flamingo I was thinking the same thing,Just wanted to see if I could get some info before Talking to the Atty. have a hard time getting them to call me back since they have bein paid in full by the plan

Thanks again

[knotholeone]

HELP HELP HELP I hope I can ask my question here. I am in an active 13 into yr 2. I did not reaffirm my house payments outside of plan. I am trying to get a loan mod (what a joke). I am behind 5 months. Can I walk anytime up to my BK being finished. I need help my atty passed away and I have to get another. Also would I have to pay the diff on what is owed and also will the IRS come after me for the diff. I really appreciate anyones help in this matter.

[Billssuck]

First thing I would do is to get another attorney right away and discuss this problem with him/her. But to settle your mind some, I just modified my ch13 to surrender my home and my attorney told me since my home was being paid "outside the plan" that my ch13 wouldn't be dismissed; only a normal foreclosure process would take place by the bank. There is a possibility the difference you owe on the house and what the bank can get for it by auction or selling it will be added as an unsecured debt to your chapter 13. All the more reason to REALLY make sure that you make the chapter 13 payment before anything else in your budget to make sure it too is gone when you case is discharged. Good luck to you!

[this2shallpass]

I originally filed a chapter 13 to save my house because it was my "Dream Home" and I have back taxes. A year and a few months into my CH 13, my house is underwater $100,000+ ON TOP of the $120,000 2nd that I was able to strip off. My husband and I have had our hours cut at work so I called my Attorney and explained our situation here was her advice:

1. Stop making my mortgage payments and eventually our Mortgage will file a motion to lift the Automatic Stay, 2. CONTINUE MAKING TT payments minus the the amount taken out for the mortgage BUT MAKE TT PAYMENTS!!. 3. Once the motion reaches the court, my Atty will ask for my plan to be modified, FC to commence, and plan payments be reduced to a lesser amount due to the FC and our pay cuts.

I hope this helps others who also added back mortgage payments in their CH 13 and were unsure what would happen if they could no longer keep their home. BUT before you follow what my ATTY has suggested, you need to contact an atty to discuss your situation because EVERYONE's case is different, as are their atty's.