Missed payments before BK closed, but after discharged

[NachoAVGJoe]

this is for both my mortgage and my home. We can afford these payments, just medical issues have put us in a slump for the past 3 months. I am 2 months late on mortgage and 2 on auto payment. Will they forclose/repo and if so, most likely when? We were discharged June/08 and still not closed (waiting on our stimulus from last year). Will the creditors contact us before any action is taken?

[AfraidOfBK]

im sure it depends on your lender but Chase contacted me after 45 days of being late and the NOD shortly followed (at about three months late)....

Are you trying to keep home and car? IF so, I would contact companies right away, unless you can afford to catch up immediately...

BE safe - ask the lawyer

[justbroke]

You should immediately contact your mortgage holder and ask them for a repayment plan or a modification. Stay on top of this!

[NachoAVGJoe]

auto is BOA, mortgage is Indymac...funny they are both having troubles of their own. I called last month and was told we are not far enough behind for anything. That was before this month..... We filed pro se so no attorney to ask...we do have one who charges $45/hour if we are really confused, though.

[relief13035]

Definately call your mortgage company right away. There's a lot programs right now for them to do a loan modificaton..

Who is your lender?

[relief13035]

To speak to a loan counselor:

Indymac Bank
Default Risk Management
7700 W/ Parmer Ln
Building D 2nd Floor
Austin, TX 78729
1-877-908-4357

[CCCrazy]

I just gotta say the people on this board are so nice with edumacating all of us and lending a helping hand...I look forward to continuing the tradition once I get thru all of this....your thoughts and prayers are needed for this Thursday!!!

[justbroke]

Will the creditors contact us before any action is taken?

I apologize for not having directly answered this question. You will receive a "notice of default" (NOD) before the mortgage lender starts any foreclosure proceedings. This is a legally required step. Usually, on that NOD, it will give you a period of time to "cure" the default (back payments).

Since you are at 60 days past due, may be willing to talk to you about a modification, while most lenders wait until the 91st day (since they would then send an NOD at day 91... usually).

Even if you let it get as far as 90+ days and the NOD has been issued it will be 30+ day s form there before they could even start foreclosure action. Depending on your State, it could be a year before actual foreclosure.

Short answer... they will definitely contact you... and you're months away from any foreclosure on your home.