12 days from discharge & Wells wants relief from stay

[maddog2112]

We are 12 days from discharge and all has gone well so far, now Wells fargo shows up on pacer today and they are looking for a relief from stay. We stated we were reaffirming the loan in our court paperwork, but hadn`t heard anything from our 1st or 2nd, so we weren`t going to. It`s friday evening ,so I can`t call my lawyer. I`ll have to wait till monday which is going to drive me nuts. We`ve always had a great payment record with them and are just catching back up with everything else since our wage garnishment stopped 2 months ago. We converted from a 13 to a 7, due to decrease in income.We are one month behind, but didn`t think that would be a big problem. We were going to catch up in December. The house is worth the 1st and second combined with no equity.What gives? Could wells Fargo want the house, or is this a way to force us to reaffirm?

[justbroke]

This just may be a paperwork issue, but if your attorney never followed through with the reaffirmation, Wells is about to have their loan discharged. With you actually behind in payments, this is their right and is the normal process in a Chapter 7.

I would certainly talk to your attorney as quickly as possible on the reaffirmation.

[whipster1]

The being behind part is what triggered this. Wells is the WORST to deal with in BK.

[maddog2112]

I don`t think my lawyer put in for a reaffirm, I know the intention on the court paperwork was to maintain the property, and I didn`t push it as that seemed to be the general consensus on the posts. I have a hard time believing the bank would want another foreclosure that they will lose money on! All over one payment behind? I`ll be talking to my lawyer on Monday. I hope it`s not too late to work something out. Looks like it`s gonna be a nerve wracking weekend!

[justbroke]

Reads like you attempted to do a "ride through", but someone didn't tell you that you needed to be current (at all times) in order to be safe. I hope your attorney provides you with some new, sound, advice.

[maddog2112]

Thanks justbroke. Your your not giving me a warm fuzzy, but I know it`s my own damn fault. I hope my lawyer can work some magic.

[justbroke]

Okay, here's the fuzzy statement... I'm sure it will all work out. I don't think magic is required, but so long as you have a plan to come current, you should be okay. Remember, their loan is about to be discharged, and they technically can't collect it from you. They are just lining up their ducks. Filing the motion for Relief from Stay doesn't necessarily mean foreclosure.

For example... did you even get a Notice of Default or any notice about the acceleration of the note? If not, you still have options to cure any past due amounts.

[maddog2112]

Thanks justbroke, I knew you`d come thru. I hope your right! I haven`t received any notes from wells, but I was in a 13 thats just been converted. I don`t know if that makes a difference. From what i`ve read, lawyers don`t like to reaffirm, due to liability. I can quickly become current if need be. Any thoughts, and what should I ask of my lawyer monday?

[justbroke]

Thanks justbroke, I knew you`d come thru. I hope your right! I haven`t received any notes from wells, but I was in a 13 thats just been converted. I don`t know if that makes a difference. From what i`ve read, lawyers don`t like to reaffirm, due to liability. I can quickly become current if need be. Any thoughts, and what should I ask of my lawyer monday?

I'm assuming you were in arrears during the Chapter 13? If there was arrearage in the plan, were the arrears cleared? (Also, I really meant the letters from Wells coming prior to filing... like you were behind before you filed the Chapter 13.)

Ask you lawyer what the next step is. Make sure you understand that the attorney filed you as a "retain and pay" and not a reaffirmation. Ask him whatever you like!

[maddog2112]

I was never in arrears going into the 13, but during the 13, there were times when I might get close to a month behind and then catch up along with my late fee, when times would get tight. I never received any notices like you mention, ever since wells held the note over the last 5 or 6 years.

[justbroke]

That's good news at least. You never went 31+ days past due.

[jjsmith]

Maddog, you should be able to look on pacer and see your documents and whether or not your attorney reaffirmed with Wells or not.

[ska]

maddog, I understand what you are going through. I was in the same boat, except I wasn't so close to closing. In my state we could not reaffirm the mortgage, just ride-through. Behing behind was the worst for us, but were able to catch-up before our discharge and closing...we are all good now. I truly believe the same as the previous posters, this is just standard procedures for them. You will get through this. I feel you are correct when you say that they do not want another foreclosure. I believe they are just going through the motions at this time. Stay strong and focused on getting caught up.

I am soooo much happier right now. It has been tough to change to cash only, but at the same time...it feels great!!!

Good luck! Keep us posted!

[maddog2112]

Thanks ska, that makes me feel more at ease. I can squeeze and become current if they`ll let me before discharge. I`ll just have to wait until Monday when I speak to my lawyer. I`m sure he didn`t reaffirm as I think he`s against the idea. Thanks for the info.

[logansdad]

What happened? please tell me I need this info ASAP.