Stopped paying Mortgage Now what?

[freeatlast98]

Now for the first time in 20 years I didn't pay my mortgage in May. Now I'm getting behind on that. i just don't know how to get caught up. I have contacted BofA regarding a modification, still don't know if they'll even consider one.
Then last night I started worrying about the impounds that are usually taken from the payment and started worrying about them. There is always another reason to start worrying again. I don't know if they do put me on a trial modification how the back impounds are handled. Would you happen to know? I know you are in California also. I planned to file Chapter 7 however, now with the arrears on the mortgage I don't know if I could still file Chapter 7 and still keep my house. Everyday I get deeper in a hole. Don't know what to do.[/QUOTE]

[epiphany]

Now for the first time in 20 years I didn't pay my mortgage in May. Now I'm getting behind on that. i just don't know how to get caught up. I have contacted BofA regarding a modification, still don't know if they'll even consider one.
Then last night I started worrying about the impounds that are usually taken from the payment and started worrying about them. There is always another reason to start worrying again. I don't know if they do put me on a trial modification how the back impounds are handled. Would you happen to know?I planned to file Chapter 7 however, now with the arrears on the mortgage I don't know if I could still file Chapter 7 and still keep my house. Everyday I get deeper in a hole. Don't know what to do.

I am wondering about this too. Can you file chapter 7 and keep a house that you are in arrears on? Is that possible??

ep

[epiphany]

bump

[ryan]

As far as the impounds for taxes go, in my case BofA wanted to roll the delinquent amounts into the new payment, spread over 12 months to make up the deficit.
Since I could not get the modification anyway, it didn't matter.

[bulletproof77]

Sure, you can keep a house after a Chapter 7. You can either reaffirm the mortgage (which I would not do as it obligates you if you walk on the house) or just keep making the payments (ride through). Then later if you decide not to keep the house, you walk and they can't come after you for a deficiency. This is assuming that you included mortgage(s) in your BK. Back impounds will be added to your payment.

[epiphany]

Sure, you can keep a house after a Chapter 7. You can either reaffirm the mortgage (which I would not do as it obligates you if you walk on the house) or just keep making the payments (ride through). Then later if you decide not to keep the house, you walk and they can't come after you for a deficiency. This is assuming that you included mortgage(s) in your BK. Back impounds will be added to your payment.

Thank you for the reply..I appreciate it!

ep