Mortgage Company wants response..... WWYD?

[CCBmama0f3]

We have our mortgage through Chase and they have sent us a letter in the mail wanting a response from us. They want us to call them and let them know what we want to do. We are planning to "pay and stay" but I'm not sure if we should call them or not. I do not want to be tricked into a reaffirmation. They did give us the address to mail our payments if we are planning to stay. What would you do? Can I call them or should I just keep paying them and they will get the hint?

[tez44xx]

We have our mortgage through Chase and they have sent us a letter in the mail wanting a response from us. They want us to call them and let them know what we want to do. We are planning to "pay and stay" but I'm not sure if we should call them or not. I do not want to be tricked into a reaffirmation. They did give us the address to mail our payments if we are planning to stay. What would you do? Can I call them or should I just keep paying them and they will get the hint?

I was in the same situation. I just called them and told them I plan on keep paying and they were ok with that. The person on the phone did not try to pressure me into anything, they actually were helpful. I wouldn't put any wieght into the letters. Just pay and stay.

[AngelinaCatHub]

It would not hurt to call them back. As long as you pay as agreed in the Mortgage documents, they cannot kick you out. Stay current though as in the letter of the law, they can call the note on any missed payment. They don't want your house, they want the money. Don't overtalk though and do not reaffirm. You know not what the future holds. A reaffirmation sticks you on that mortgage even after bk. 'Hub

[Pandora]

First question I have is if you've filed BK yet? Assuming you have....why is your mortgage company contacting you at all? they should be going through your attorney unless you gave specific rights to talk shop.

???

[justbroke]

Pandora, I don't see a "non-collection" letter from the Bank asking what your intentions are, as a violation of the automatic stay. The automatic stay is clearly about stopping the collection or continuation of process to collect on a debt. Many banks, with an overabundance of caution, will just simply not even send you a birthday card. However, a smart bank will review what's on the Statement of Intentions and communicate with the debtor (by sending correspondence to both the debtor and the debtor's attorney) with regard to the stated intentions.

I've never read 11 USC 362 to infer any "no contact" order upon the creditor. This is why many creditors will send "information only" bills while the automatic stay is in affect.

Having wrote all that... I too would like to know at what stage of the bankruptcy process the poster is at.

[newbie2]

The OPs signature states that they just filed (about 2 weeks ago) and 341 meeting is scheduled for the end of May.
They don't state though when the letter came.

[Pandora]

Pandora, I don't see a "non-collection" letter from the Bank asking what your intentions are, as a violation of the automatic stay. The automatic stay is clearly about stopping the collection or continuation of process to collect on a debt. Many banks, with an overabundance of caution, will just simply not even send you a birthday card. However, a smart bank will review what's on the Statement of Intentions and communicate with the debtor (by sending correspondence to both the debtor and the debtor's attorney) with regard to the stated intentions.

I've never read 11 USC 362 to infer any "no contact" order upon the creditor. This is why many creditors will send "information only" bills while the automatic stay is in affect.

Having wrote all that... I too would like to know at what stage of the bankruptcy process the poster is at.

I understand JB , but I wasnt directing it towards stay violations - I was merely asking - not so much due to automatic stay violations - but because our lenders (mortg / vehicle) are both outside our plan (but as you know..still "included" in our filing)) and they needed permission to even have any contact at all with us - just as we needed permission to contact them. We had to send in letters to both lenders stating it was okay to contact us so we could get statements again; they did the same with us but went through our lawyer to do so.

ETA: would be nice if I could spell today :/

[justbroke]

Many creditors will ask permission by seeking a signed authorization from the debtor and/or attorney so that they can negotiate things such as modifications or other things to save or dispose of real property. (Mine did the same thing.) Since they haven't asked the court for any permission to "modify" the stay, then I don't see a letter of authorization to "communicate" as affecting the stay at all. They do this out of an abundance of caution because if they were to actually start billing you -- even if you asked to be billed -- they would have something to fall back on.

In either case, my bank asked me to sign a "release" as well, permitting them to communicate with me on my modification. They did this even though they had a Relief From Stay (RFS) motion in play.

If I were a lender/creditor, I would also ask for a signature from the debtor/attorney allowing "communication'. It's still a fine line, though, since they still can't "attempt" to collect a debt. The stay is actually still there and cannot be removed merely by the agreement of parties to the bankruptcy case. The stay can only be modified or terminated by operation of law, the stay expiring, a judge ordering a modification or termination of the stay upon motion, the discharge of the debtor (which imposes a new stay), or the case closing... whichever comes first.

The stay is a powerful thing and continues regardless of any letter signed. As a creditor, one must still be very cautious.

[CCBmama0f3]

The OPs signature states that they just filed (about 2 weeks ago) and 341 meeting is scheduled for the end of May.
They don't state though when the letter came.

The letter came about a week after filing. The letter states they have received notice that we filed BK, and want to know our intentions.

[IHateToBeEmo]

The letter came about a week after filing. The letter states they have received notice that we filed BK, and want to know our intentions.

Since you have already filed, the mortgage company should know what your intentions are, as you had to check off a box on the bankruptcy forms. If you're not modifying your mortgage, I suggest you not talk to your mortgage company. Just talk to your attorney. Only your attorney has your best interests at heart. The mortgage company has THEIR best interests at heart.

[sh9730]

I got the same letter and got the same response when I called. At this point all they want to know is whether I intend to stay, or go. I want to stay, but I am delinquent (as many of you have read in my other posts). I actually talked to the attorney's office for Chase as well. They have sent a demand letter to my attorney (pretty standard fare - even the Chase attorney said dont worry about it), as the first step in the process to file the motion to lift stay.

Even if/when they do file the motion to lift the stay (which will allow them to then BEGIN the foreclosure process - they had not filed ANY official NOD or anything before I filed), again, even the attorney for Chase says that it is very possible to be able to work out something with the bank itself. They are just protecting their interests by filing the motion to lift stay, IN CASE, they want to move the process forward.

Unfortunately though, I do think if I am able to work out anything with Chase in the future, these attorneys fees will be my responsibility also - whether prior to me being called "current", or tacked onto my loan balance I do not know.

Im still hopeful that after I am allowed to talk with the bank directly - either with the stay lifted - or I get the letter signed by my attorney that says they can talk with me, and a decent amount of cash (right now I am about 5K behind with them and pretty quickly should be able to have about 3K of it, maybe more), they will let me stay....but Im not going to reaffirm.

[jwmc1]

This is a mortgage, there is no reaffirmation. You owe hat you owe. The mortgage has not statute of limitation.

[newbie2]

This is a mortgage, there is no reaffirmation. You owe hat you owe. The mortgage has not statute of limitation.

There absolutely is a reaffirmation of mortgage debt if one wishes, but it is not advised. Are you talking about something else???

[btbeme]

The letter came about a week after filing. The letter states they have received notice that we filed BK, and want to know our intentions.

If you have filed, your intentions are clearly stated on the filing. You can ignore the letter. If you wish to call them, advise them of your filing case number, and that is all. They will have full access to the filing and will be able to see your intent.

So long as you stay current, they cannot do anything to you.