Accidently Missed Mortgage Payment Yesterday...Does this screw us?

[spidge]

What is the best way to get caught up on a mortgage paid outside the ch13 plan? Currently 45 to 60 days behind.

Of coarse I could call my attorney and negotiate an increase in my mortgage payment over time to satisfy. I believe there is a BK rule for guidance on this.

Plainly make an additional payment. If I do when should this be done? Maybe after the last payment was applied/dispersed? Is timing important?

Another thought, does the mortgage holder track payments or balances? So since all my payments go into a suspense account and is not applied until a full payment is available could I simply add what I can each month until caught up?

I am a little nervous, but I think I can get there one way or the other.

[justbroke]

You could go through the bankruptcy court and have a post-petition arrearage added to the plan. In either case, the Trustee and/or Court (and probably the creditor) would want this corrected over 6 months (and not spread over the life of the plan).

If you are paying outside the plan, you could ask for a forbearance and an installment plan to bring the mortgage "current" outside the plan. Typically, the lenders will allow 3 months for every single missed payment. If you had one missed payment, you would typically get a 3 month installment to cure the arrears.

Your issue is that you are nearing the end of plan, so time is of the essence. Your attorney may have better suggestions.

[toojerm]

I relocated and got three months behind on my mortgage paid outside the plan. I caught up before my discharge last june, and the best part was, no reports of late payments ever hit my credit report.