Saving Ch13 and delinquent mortgage.

[dmc-2008]

Sorry for all this stress and it has to be heartbreaking to be so close. But step back and take a reality check, look at what this house situation is doing to you? Its killing you, why? So the bank gets theirs, you will have a heart attack or stroke from the stress then where does that leave you? Without the house anyway? Its a building, a box, would you die for it? The stress will destroy any chance you have of getting back to work.

Do not touch your 401k, one of the worst decisions you could possibly make and again for what? So the bank will not take back their house (and as you are experiencing it was never really yours until it is paid off), look when did the bank become number one in your life above you and your family? Seriously, step back and take a breathe and look at this situation for what it is. You are suffering at the hands of the mortgage company and at this point the reality is you cannot afford this house, period! What happens when the "next big life event happens" and you fall behind again?

I wish you luck but put yourself and your family first and things will not be better if the stress gets you, it can get much worse for you....hopefully you will have that epiphany, good luck!

I wish you luck but put yourself and your family first and things will not be better if the stress gets you, it can get much worse for you....hopefully you will have that epiphany, good luck!

I think I need to heed these wise words too!!!!

[spidge]

Well even though I was told an exam or "fit for duty" exam would satisfy the company to allow me back to work some technicality they could not decipher within the report has put me on hold again. Ridiculous, but I sought advice from an attorney on the injury subject too late in the game, so it seems that I am on my own on this.

So still stressed, but not as much. If it is meant to be I will keep the house as I have many years left until retirement and intend to use proceeds from it to help. It is part of the mortgage free retirement plan(dream).

Thanks for the encouragement or rather kick in the arse about reducing stress. My goals for the last 5ish years was to reduce stress in my life including stepping down at work once I accomplished creating a financial situation that was less demanding at home. Problem is, all that I have worked for is now in jeopardy.

I'll get there one way or the other. That does not mean I will like it. I may not be comfortable or like the fight or race, but if it wins the race I'm good.

I'll chip away at the issues and ride any momentum I can create or happen upon.

It in not over yet!!!

[dmc-2008]

No it's not over yet!!! One day at a time is what I have been reminded to do too!!! Xoxo

[spidge]

Options?

Well I am still not back at work so there is no income available to enter into any kind of agreement yet. I am thinking about options available to me even if I end up back to work.

1. If I go back or am able to replace my income could I modify the plan to include the few back mortgage payments and one missed BK payment.
A. Could this include reduce my payback amount?
B. Could I include a small amount of new federal taxes?
C. What else?

2. If I do not get back to work or if I have to take a job that will not match my old income could I convert to a ch7?
A. How would the house be dealt with?
a. Let it go.
b. Would I be able to obtain a ch7 discharge and enter into an agreement with the mortgage company at the same time in order to keep the home.

3. ??????

[spidge]

Attorney wants to look into modifying the ch13 plan and that I would have to seek another modification or settle up with the mortgage company in some way outside the bk plan. She doubts I could get the plan payback reduced very much as it is already only 3%.

[spidge]

FINALLY!!!!! The company I work for has a medical report in hand that will put me back to work, so I should be back in action by Wednesday.

The bad:
About four, ok maybe five, months behind on mortgage.
Two months behind on trustee payement.
Wife lacks confidence to land a full time job, but currently works part time. There is risk of conflict here.
I don't plan to go back in the same capacity/position. I need less stress and I don't care to work 60+ hours a week or travel without a major benefit. The carrot hanging in front of me is not enough.
Very physical job.

The good;
Regular paychecks at a good wage even though I will be working about 50 hours a week.
Medical benefits paid.
Good vacation time.
Not much else.

Fingers crossed I get through this as I dream of helping my young adult children here and there.

[spidge]

The fun begins now as the trustee filed a motion to dismiss, but the good thing is the company rep called me in to start working again tomorrow. The attorney will try to put off any action until December and by then I should be caught up on the BK payments. Then I just have to straighten out the mortgage.

Fingers crossed.

[jange]

I hope everything works out for you spidge!

[ValleYum]

I will cross my toes for you, too, Spidge... For extra luck!!

[Pandora]

Keeping you in my thoughts that all works out Spidge! Hang in there!

[spidge]

Thank you Pandora, jange, and ValleYum.

[AngelinaCat]

How is it going?

[spidge]

How is it going?

Well the attorney said they would ask the trustee not to move until December so that I can catch up on the BK payments. I wont receive my first payroll check until next Friday and will likely be able to pay the last two and the one due for this month. So the BK will be taken care of but the challenge will be catching up on four mortgage payments. I am still not sure what I am going to do on that as I do not know what is acceptable. I don't like the idea of a 401k loan as that would just be another payment that would last for who knows how long. The plan was to be even steven when the discharge comes, but if I need to make changes I will.

I am much less stressed out as the F*&k It" stage has come and gone. In the plan almost all the tax claims are paid and I owe a little less than a payment on the house arrears with nothing going to the unsecured yet. The balance on the bk is a bout a months salary which is a good feeling, but I just need to get over the mortgage hump first.

So close yet so far.

ARG!!!!!

[spidge]

Attorney's office called this morning to discuss modifying my ch13 plan, but with the payback already at 3% it cannot be done. I have until a hearing on December 23rd to make up three payments, but I am sure I will be able to make four by then.

I was advised to seek another mortgage modification to bring it current. I was given a mod 6 years ago and another a year later, but the attorney's office assured me that mods can be done every two years. I do hope they are correct as that would be our best solution with the new arrears spread over the life of the loan rather me attempting to make them up in six months. The mortgage company just sent a letter to the attorney and I asking to send me the monthly statements. I hope that is a good sign.

I feel like mother duck collecting the ducklings and aligning one at a time.

[spidge]

We put another duckling in line by paying two trustee payments (Sept & Oct) and I am confident we will make two more (Nov & Dec) next week. That will leave us 11 to go, but still in need of a mortgage modification soon.

Hopeful.