Mortgage change due to Ch 13?

[brandv1]

I was looking and didn't find anything to answer this question. So forgive me if it's been covered before and I just missed it.

I got my mortgage statement a week or so ago. I just opened it to pay it and notice that they have added the mandatory statement regarding bankruptcy, was expecting that. What I wasn't expecting was that our payment dropped over $100/month.

I called the mortgage company, and they told me that even though our motgage wasn't included in the 13, they actually made a claim. Said something about protecting them and us in case of a conversion to 7. I asked everything I could think of about why it went down, and made sure that the new amount is not going to put us behind during 13 or come back to bite us in the A__ after 5 years with them demanding immediate payment $6000 or so over the course of 13. They say it's all good. I'm thinking I should make sure with my atty.

has anyone here experienced this, or have any guess as to why the change?

[justbroke]

Whatever they claim in the Chapter 13, is their claim (period). They can't go back and modify it after your discharge claiming a mistake. I would just say a quiet "thank you" to myself, and make sure you stay in plan and on time!

[brandv1]

Well, we found out why we go the lower payment. It seems our lawyer had worked out with the Mortgage company attornies to remove insurance from the escrow and we would pay that on our own. It ever so nice for them to let me know!!!

Instead I found out by getting a $1200 bill from my insurance company and it took 3 days of phone calling to figure out what was going on. Luckily I can put that on monthly payment and don't have to pay the lump sum.

This is not the first thing that has been an issue. And now I'm rather annoyed with my attorney and wish I had a different one. When we went to her she came highly reccomended and I got a good vibe from her in first meeting..... her paralegals on the other hand seem to not know the ass from hole in the ground and don't seem to be on top of the communication game. If I'd dealt with the paras before the attorney, I may have chosen someone else.

[justbroke]

Ouch! I am glad that you were able to put it on a payment plan.

[toojerm]

Having the mortgage in the bk will make the trustee fees higher, (approx 7% of the total paid out by the trustee, so if the payment is $1000/mo, then your trustee fees go up by about $70/mo, not a good deal)

[brandv1]

The Mortgage is outside of the plan, so I am unsure why my attorney did this with the mortgage company. I'm not even sure what The mortgage company claimed in the 13. It hasn't shown up yet.

[justbroke]

The Mortgage is outside of the plan, so I am unsure why my attorney did this with the mortgage company. I'm not even sure what The mortgage company claimed in the 13. It hasn't shown up yet.

It should show up and should be under Claims Register.