I should have known...

[TRfromillino]

Opened up my Pacer account this morning just to check and see if anything had changed....well, it had big time.

Evidently yesterday my bank filed a motion to lift the stay on my mortgage, stating that I had put on my original documents that I had intended to reaffirm, but then changed my mind at the 341 meeting. And they do not believe that I am solvent enough to repay that note. I am current with them. They also filed a NOD! *sob* I have until the 3rd of May to respond. I guess I'll be in touch with my lawyer this morning to see what happens next. I really believed that as long as I was current on my payments, that they would just let me pay like I have been. Not at all something I needed to see this morning and I don't know what going to happen now. Scared...

[TRfromillino]

Ok, a correction on the previous post....

The NOD was a notice of deficiency, not default. However, my lawyer, who I truly dislike now, has told me I have no recourse but to let them proceed with lifting the stay, and pursuing forclosure even tho I am not in default payment wise. "Ipso Facto". He said I can still reaffirm with the bank, i.e. they're forcing me to. However the documents I read this morning that the bank filed says they will not reaffirm with me anymore. Lawyer said I don't want to accept responsibility for not reaffirming and I don't want to accept responsibility for reaffirming. My call.. And he said had no idea of what the notice of deficiency was. !!! I'm truly a mess right now....

[pamkev]

I am so sorry to hear this and I'm sure the experts will be along to give you there advice. Maybe it's the state your in, we are doing stay and pay and we never heard a peep from our bank after we filed and we were current and never behind on the house payment. It would seem to me they would not want to foreclose as they are getting there money. Maybe time for another lawyer

Hugs

Pam

[Pizza]

What bank is this???

Section 521(a)(6) states that the debtor must act on their intention with regards to personal property (cars, furniture, etc.) within 45 days of the 341.

You just filed. You should have a month and a half from the 341 to act on the intentions you listed on the bankruptcy documents - and that does not even include mortgages.

I am confused as to why this bank is so hardcore. Nothing about the situation makes sense. Not a lawyer in town (here anyway) recommended that I reaffirm mine. One simply asked me why (since the payment was so low), and when I told him, he said the option to stay and pay was perfectly valid. My mortgage is through Wells Fargo.

[TRfromillino]

Pizza, if I had the answer to any of those questions, I'd be thrilled! It was a horribly long day at work, felt sorry for the kids in class I didn't have patience with today!

My lawyer told me all along to reaffirm, said this was what the bank would do. He's quite in his glory right now, I imagine and will sleep quite well. I realize that the 'it's business' and no matter how well I know the people up that the bank, they gotta do what they gotta do. They say I'm in default of my of my promissory note for becoming insolvent! AND for acting in a manner which causes them to think that they will have issues collecting the amount owed. I have never ever been late paying my payment even through the the bankruptcy. The credit cards caused the issue and once they were gone, things opened back up again. Things may be tight but I'm making it! I've been cc free for close to a year...kinda like it. So evidently they must believe that I spend all my time out partying (as if!) and am no longer trustworty.

Why are they so hardcore? Gut feeling is someone at the bank wants the house. It's a decent house, in good neighborhood. They want to pick it up for a song. But I guess they have me over a barrel. I can't afford another lawyer at this point and the one I have is pathetic. I suppose I will just have to sign the reaffirmation papers and be done with it. I still have time to do that if they will accept them. Sure don't want to....

[ld2366eh]

I am in Illinois as well and it's a judicial state. If I were you, I wound get a free consult with an attorney who specializes in foreclosure defense. They can answer your questions better than that attorney you have. If you are in the Chicago area, PM me and I'll give you my lawyers info(we r doing foreclosure defense right now). Good luck!

[Pizza]

I am in Illinois as well and it's a judicial state. If I were you, I wound get a free consult with an attorney who specializes in foreclosure defense. They can answer your questions better than that attorney you have. If you are in the Chicago area, PM me and I'll give you my lawyers info(we r doing foreclosure defense right now). Good luck!

This.

Is it a small bank? This one is throwing me for a loop and scaring me a little. I'm filing within the next week and I want to stay and pay also. Per my attorney's advice and my house's condition, I should not reaffirm.

[keepsmiling]

Crossing fingers and toes for you that they are just trying to strongarm you. Truly this is almost never the story here.... it has us all thrown for a loop.
I so wanted you to be able to tell your lawyer he was full of it
Your theory could be right too. Hang in there, hopefully it all works out somehow!

[TRfromillino]

Yes, it's a small town bank here in town. You will probably have more luck than I, being it's WF. My house is in pretty decent shape, so like I said, someone at the bank thinks they can get a house pretty cheap. And believe me, when this get discharged? that lawyer is going to get an earful. And possibly a letter might get written to the president of the bank too...I've never been late with my payments and for them to put in a document that I'm acting 'in a manner that causes them to think I might not pay them' totally pissed me off.

[TRfromillino]

keepsmiling, (love that) I'm sure that they are trying to force me into signing the papers, but with this threat over my head, what else can I do? Either I live here, or someone or their family will....

[kawh]

Maybe I'm missing something here, but there's no reason to reaffirm your mortgage, just keep paying it and be current as you are now.

Is there anyone at the bank you can talk to, to get an explanation? If your lawyer actually advised you to reaffirm, that's going against most advice. I don't see how that would be wise unless you have a very small balance remaining. And I don't understand a Notice of Deficiency if there is no deficiency. In my own case, my mortgage company created a small deficiency by charging me a fee for going bankrupt (and without ever telling me about it until I called twelve people trying to find out about where my overpayment funds had gone!), but unless there's some fee they've failed to disclose to you, how could you possibly be deficient in any way?
Most banks would be glad to be spared the trouble of dealing with the property.

[LadyInTheRed]

I am in Illinois as well and it's a judicial state. If I were you, I wound get a free consult with an attorney who specializes in foreclosure defense. They can answer your questions better than that attorney you have. If you are in the Chicago area, PM me and I'll give you my lawyers info(we r doing foreclosure defense right now). Good luck!

Follow that advice!

[TRfromillino]

kawh, i scoured every website, picked everyone's brain here before I made the decision, to not reaffirm. My laywer is old school (being kind here) evidently, and wants to get in and get out clean. Do it his way. Sorry if I'm a bit contrary...

The deficiency thing was on them. They didn't do something right on the property description. Came from the UST. I honestly do not understand why they don't want to keep someone in the house that will take care of it, well, because it's mine. It's either a strong arm thing like keepsmiling said, or seriously someone wants the house.

LITR, I might do that just to hear what they might say, but right now, my backbone is pretty wobbly.....

[df04527]

Don't let them shake you! Get your feet back under you and make those appts! If you don't get unwobbly then you have a good chance of being forced to do something you don't want to do. I wouldn't let them take me down that easy!

[kawh]

Oh, I understand a little more now, TR. I read a coupla your older posts. And I hate your lawyer, too.

At times like this, we hope a fair judge will protect us, since that is what they are supposed to do. But even supposing the judge is bff with your bank's whatever, and the stay is lifted, the bank is going to have problems throwing you out of a house you bought in good faith and have been faithfully paying on. Property description my arse.