Hi I was just discharged last week from my Chap 7 (converted from Chap 13). Did not reaffirm my mortgage which is thru a local credit union (First Financial Federal). I was up to date on my payments until Jan of this year. Since then I've been making 1/2 payments about every 3 weeks or so. At this point i'm 2 1/2 full payments behind so I'm approx 70 days late on 1/2 of May 1st payment, 40 days late on June 1st and 10 days past July 1st.
A couple things of note regarding the mortgage. There was an issue the Chap 7 trustee found regarding an "Affidavit of Consideration" missing on the deed of trust. I asked my attorney a couple times about this and still don't really understand it. He just kept telling me not to worry about it that if wouldn't affect me in any way. There was a hearing supposedly at the MD Court of Appeals to deal with it but I have no idea what the outcome was??
The second thing was that on the last couple payments I sent into the credit union I rec'd a letter back in the mail stating that my "deposit" was going to be held for like 2 days or something like that because my account had been inactive for a long time. I called them after I rec'd this because it sounded like something you would receive when depositing money into a checking / savings account. The credit union said that it was just a standard letter then send out and told me that the funds would be posted against my mortgage??
So my questions?
Do either of the above issues impact me in any way?
How do you propose the credit union will move forward now that I'm discharged?
Would they typically reach out to me to try to catch up or would they immediately start foreclosure procedures?
I'm guessing the first thing I should do is to call the credit union now that I'm discharged to see if they will work with me to catch up?
A couple things of note regarding the mortgage. There was an issue the Chap 7 trustee found regarding an "Affidavit of Consideration" missing on the deed of trust. I asked my attorney a couple times about this and still don't really understand it. He just kept telling me not to worry about it that if wouldn't affect me in any way. There was a hearing supposedly at the MD Court of Appeals to deal with it but I have no idea what the outcome was??
The second thing was that on the last couple payments I sent into the credit union I rec'd a letter back in the mail stating that my "deposit" was going to be held for like 2 days or something like that because my account had been inactive for a long time. I called them after I rec'd this because it sounded like something you would receive when depositing money into a checking / savings account. The credit union said that it was just a standard letter then send out and told me that the funds would be posted against my mortgage??
So my questions?
Do either of the above issues impact me in any way?
How do you propose the credit union will move forward now that I'm discharged?
Would they typically reach out to me to try to catch up or would they immediately start foreclosure procedures?
I'm guessing the first thing I should do is to call the credit union now that I'm discharged to see if they will work with me to catch up?
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