Mortgage - Motion for Relief From Stay

[BoxerLover]

Hi Everyone,

My mortgage company filed a relief from the automatic stay and abondenment. We currently are due for July and August, paying July this week. Payments are $900.00. They show roughly $1,000 in past late fees. I understand they can get granted the relief from stay becuase I'm not current, I'm hoping my attorney objects though. I wanted to reaffirm this loan....but I'm being told by NBS default services, who I get transferred to when I call Litton, that she thinks they probably want to foreclose on me and that is why they haven't sent the reaffirmation, since I am behind 1 month and have $1,000 in late fees. As far as I knew in Wisconsin, a NOD isn't filed until you are 45 days delinquent, which I'm not....and the proceedings for actual foreclosure can't start until 90 days....so if I'm only one month behind, even if it that way for a few months....I don't see how they can foreclose. Please help. Is this a scare tactic?????

[BoxerLover]

Well, they withdrew the motion for relief Yeah!

[justbroke]

Yeah! Probably because they see no value if you're actually going to keep paying. Additionally, you should never enter into a Chapter 7 if you are in arrears, are not going to get a modification, and are behind in payments. It is quite possible, under that scenario, that you could have an RFS file and then foreclosure proceedings started. At all costs, don't sign a reaffirmation agreement! There are very few cases where a reaffirmation is "worth the paper it's printed on" when it comes to real property.