What a huge relief...lein strip.....

[8forme]

Just got a call from our attorney that we need to come in and sign some papers for our 2nd mortgage lein strip. The matter already went before the court and the 2nd mortgage company did not contest!! We are about 30K underwater on the first as it is so I did not think they would but was still worried.

We have to sign an affidavit and motion for summary judgement(?? think that is what she said.) She also told me to stop paying the 2nd mortgage. We were going to send a poyment Wednesday, what goodtiming (It is current because of a mod and interest rate decrease last year)

I also asked if that would increase our trustee payment and she looked at our paperwork and said it did not indicate it would make it go up. So we can add that to our emergency fund monthly.

I was expecting it to take much longer to hear about.

[lrprn]

Congrats on things working out in your favor! High fives all around!

[Jf24]

I thought it would add to the payment. Without the payment for the 2nd there is more DMI.

[8forme]

I thought it would add to the payment. Without the payment for the 2nd there is more DMI.

I did also, which is why I asked. She looked over the paperwork and said it did not say anything about increasing our payment. It was right at $300/month. We are not confirmed yet, so I will believe it when we are confirmed next week.

[Jf24]

Please let us know. Going for my 2nd consult tonight and will try a strip also.

[markinva]

Good luck with your lien strip! I am in pre-confirmation Chap 13 - my case has been continued to March. I am also doing a strip; my lawyer advised to stop paying the second mortgage now. I'm in Virginia, a non-judicial state. I'm concerned that, if I save the money between now and March, the Trustee will want to take those savings to put toward the plan payments. I was thinking about putting the savings in a retirement account. I will be in a 100% plan, BTW. Anyone have a similar experience?