Giving house up Ch.7 and being current Wells Fargo

[Meatstick]

Living in Arizona and filing Ch.7 in March. We are current at the moment and plan to stay current at time of filing. Can anyone comment as to what Wells Fargo may do when we file the Ch.7 petition. Will they immediately move to forclose or will they wait until we are late/miss a payment ? Trying to stay in the house until the end of school year.

$226k balance
$105k current value
$1656 monthly payment including T&I.



Meatstick

[WeIzBankrupt]

Living in Arizona and filing Ch.7 in March. We are current at the moment and plan to stay current at time of filing. Can anyone comment as to what Wells Fargo may do when we file the Ch.7 petition. Will they immediately move to forclose or will they wait until we are late/miss a payment ? Trying to stay in the house until the end of school year.

$226k balance
$105k current value
$1656 monthly payment including T&I.



Meatstick

In AZ also with a CH7 and a Wells Mortgage...We are current and will stay current, but we have not had any problems. We wont have to sign a reaffirm, so we will be doing a "ride-thru" on the mortgage. Basiclly we will be allowed to keep the house because we still pay on it, but we are no longer legally liable for the debt...

[Meatstick]

Thank you so much for your reply.

Can I ask what Wells Fargo stance was when they were notified of the Ch.7 filing ? What did the trustee at the 341 hearing have to say about the situation of not re-affirming but continuing to pay.

Thanks again for your previous reply.


Meatstick

[Lana]

Wells Fargo will likely do absolutely nothing if you are paying on time. Don't give it a second thought.
No lender today will call a performing note due, whether you file bk or not.

[WeIzBankrupt]

Thank you so much for your reply.

Can I ask what Wells Fargo stance was when they were notified of the Ch.7 filing ? What did the trustee at the 341 hearing have to say about the situation of not re-affirming but continuing to pay.

Thanks again for your previous reply.


Meatstick

They didnt say anything...trustee didnt say anything either because its on Wells Fargo to send a reaffirm agreement. They didnt send one, and I wont sign one!!

[DeadManCrawling]

Cannot comment on the mortgage situation.

Will caution you that, if you have other debts or accounts with WF, you need to be very careful. Run more searches on this forum with Wells Fargo in the seach term. They have a habit of freezing accounts in BK, which could be very bad.

good luck,

-dmc

[deepend]

I filed C7 11/2/2009 and was current with Wells Fargo on my mortgage (still current). The only response I received from WF was a notice that I needed to grant them permission to continue to receive statements. My statements now have a disclaimer stamped across that says "This is not an attempt to collect a debt". In Oklahoma, as long as mortgage payments are current, they can't foreclose according to my attorney, so I don't expect trouble from WF unless/until I miss payments. Possibly it's different in your state, but from what I've read, I think this is pretty common - to ride through without reaffirming.