I am in Raleigh, NC
I was way behind, denied hamp for no good reason and made a repayment deal with the bank to try and hold on. My arrears were 16k and I paid 8k with 3700/month payments for 5 months to catch up. Well. as soon as I sent in 8k, business dropped like a rock. Prior to making the deal, house was in pre-foreclosure with a sale date of July 15th. After making the deal and sending in money it was "voluntarily dismissed" via the attorney letter I received from them and loan reinstated. I can handle the original payment but the additional $1600/month for the next 5 months will sink me. I can also use a 13 to get a grip on the 50k in CC dent we accrued while wife was out of work and my workload was greatly reduced.
My questions:
As long as file BK prior to sale (or I think in NC even up to 10 days after the sale), my remaining arrears will be put into the repayment plan correct? This would enable me to just go back top normal payments?
I assume since I was so close before, they can crank foreclosure right back up right? No 90 days wait etc?
Can I still get a mod (provided they will ever actually give me one) while in BK?
Any advice is welcome! Thanks!
PS - When in a 13, how much of money do I get to keep for savings, emergencies etc? We make about 75k combined, mortgage is 2100/month and CC/Secured debt is around 65k (mortgage not included it is 304k)
I was way behind, denied hamp for no good reason and made a repayment deal with the bank to try and hold on. My arrears were 16k and I paid 8k with 3700/month payments for 5 months to catch up. Well. as soon as I sent in 8k, business dropped like a rock. Prior to making the deal, house was in pre-foreclosure with a sale date of July 15th. After making the deal and sending in money it was "voluntarily dismissed" via the attorney letter I received from them and loan reinstated. I can handle the original payment but the additional $1600/month for the next 5 months will sink me. I can also use a 13 to get a grip on the 50k in CC dent we accrued while wife was out of work and my workload was greatly reduced.
My questions:
As long as file BK prior to sale (or I think in NC even up to 10 days after the sale), my remaining arrears will be put into the repayment plan correct? This would enable me to just go back top normal payments?
I assume since I was so close before, they can crank foreclosure right back up right? No 90 days wait etc?
Can I still get a mod (provided they will ever actually give me one) while in BK?
Any advice is welcome! Thanks!
PS - When in a 13, how much of money do I get to keep for savings, emergencies etc? We make about 75k combined, mortgage is 2100/month and CC/Secured debt is around 65k (mortgage not included it is 304k)
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