Bank called... now not sure where I stand.

[nd2fxmess]

Okay so the bank called today. They wanted me to fax over a ton of papers to see if we can work something out to keep us in our house! OKAY that's a good thing as we want to save our house. So now I'm not sure what to do, we had decided to file Chap. 13 but if the bank will work something out that would be better then that's a good thing rather then being tied to a 13 plan to 3-5 yrs. I'm just not sure how long I can wait to file the 13 in order to save the house if the bank decides not to work with us.

This is all such a mess!!!

[HHM]

How far behind are you on your mortgage payments?

If you are not too far behind, 3 months or less, then it is probably worth while to see what the bank is willing to do.

I am not sure what you are saying here: "not sure how long I can wait to file the 13 in order to save the house...??"

Of course, this all assumes you don't have other debt issues. Even if the bank can help out, you need to look at the big picture. What about unsecured debt, etc.

[nd2fxmess]

We were only 3 payments behind when they sent the paper work so we did not send the money we have sitting in our account currently that was tagged to go to them. That is roughly a payment and a half. They added next years taxes and insurance onto the total that we would have to pay to reinstate the mortgage total as of 2 days ago 10400.
She told me to send in what we have as a good faith sign and then she'll go over the paper work and get back to me in a week or so.

The only reason we were going to file a 13 was to save the house. Our auto payments are up to date and the unsecured debt is under 10000 and up to date in payments. It was only the house that was behind. Income is high enough that everything can be paid with over a thousand left over each month. Previous bad budgeting and no savings then a hit to income while husband was on workers comp left us behind on the house.

So I'm not sure how long I can wait to file the 13 if the bank decides not to work with us. We were just served last week and sent our reply to the summons today well within our 20 day mark. I was thinking we'd give the bank till the second week of Jan. then file our 13 if they won't work with us.

[HHM]

What ever you do, DO NOT send in a good faith payment, especially if they have already served you with a Notice of Foreclosure.

Your situation "should" be salvageable without filing Chapter 13, it just depends on who is the real holder of your mortgage note.

Take a look at this thread to get some ideas.

http://www.bkforum.com/showthread.php?t=11877

But I would make the effort to see if you can get this resolved without a chapter 13. Chapter 13 is a very expensive way to stop foreclosure. Foreclosure takes a long time, and you can file a Bankruptcy anytime before the auction date to stop it.

[nd2fxmess]

They will not work with us without a good faith payment. The Loss Mitagation person dealing with our case said they will not even put a work out plan together without a good faith payment! She said if they don't work something out they will refund our money we paid into it!

[HHM]

Well, get it in writing then. (if they won't put it in writting, then you know they were "messing" with you)

[nd2fxmess]

Thank HHM for the advice I will ask for something in writing before I send in the payment. May I ask another question on you. We were just served approx. 8 days ago we've sent in our response to the court. We are in FL... how long should we wait before getting the BK 13 filed so that we aren't being strung along by the bank until it's too late. As the attornery I spoke to that we will use to file the BK 13 says it will take at least 1 month to get everything ready to file.

[Granny]

I'd check again with another attorney. My attorney filed my case 2 days after I met with him for the first time. He filed it 12 days before we were set for auction.

[nd2fxmess]

I'd check again with another attorney. My attorney filed my case 2 days after I met with him for the first time. He filed it 12 days before we were set for auction.

Thanks.. We'll have to call around on Monday to a few more.

[nd2fxmess]

I talked to them again today.. told the LM that is assigned our case that we can have 3000 dollars to them on the 28th. That we would like something in writing about getting the money back if they dont' work out a plan. She said she would see what should could about a letter for us regarding that. I can't get the money till the 28th because DH just worked a bunch of OT and it will be in the paycheck on the 28th.

If they can't get the letter should we just go ahead and keep our cash then file the BK 13? What would be our next step at that point. I read in FL that if they accept money after filing that it means the bank has decided to stop foreclosure process could we just send the money then file an objection in court to the foreclosure with evidence being the payment made and accepted?

[253BK]

Yes dont fall for this game they will play! Make sure it is in writing or they need to get you a figure before payment is sent and still something in writting!

If they wont allow that to happen then tell them you will be filing chap 13 asap! They would rather keep you in the house and out of chap 13

[FreshLikeADaisy]

...She said she would see what should could about a letter for us regarding that.

In my experience, when someone makes a statement, you then ask them to put it in writing, and then they have to "see what they can do" before sending you written confirmation, that's not a good sign. To me, "She said she would see what should could about a letter for us regarding that," is code for, "There will be no letter forthcoming, just send in the money."

The way to tell the difference is a simple, "As soon as I get that letter from you verifying that you will refund this payment if it doesn't work out, I'll make out the check and send it to you." When they reply as she did, or even a flat, "Go ahead and send it so we can start," you say, "I'm sorry, but until I receive your commitment in writing, there will be no check and we will proceed to Chapter 13. Maybe your word is good, but I have no guarantee that your company will stand behind it until I get it in writing. If you have no intention of doing that, let me know now." Friendly but firm. If you don't back off of insisting on having the letter IN HAND before writing a check, you'll get your answer. Either they'll send a letter, or they'll hem and haw or erupt in irritation. Anything but the letter and you know they were lying. And even then... wait til you SEE it in your hot lil hand before you open the checkbook. Period.

Obviously I don't know you in person, but I have a feeling you're far too nice. I know you want to believe them, but stand your ground on this.