90-days behind, no partial payments?

[laurannm]

Me and my family are contemplating relocating to Nashville in July as part of a job promotion. Currently we live on MA, and we are 60 days behind on our mortgage (for various reasons, we planned to get caught up in August if we stayed). It was my understanding that once we fell 90 days behind, Citimortgage would not accept partial payments, and would only except a payment that included back payments plus attorney fees to bring current (I read this on another forum, if this is incorrect please let me know).

At this point we are going to move forward with relocating to TN, so my plan is to stop paying the mortgage (was included in a BK7 and not reaffirmed) starting in June, which means once we hit July 1, we will be 90 days late. A potential move date would be early July

I am trying to plan for worst case scenario though, i.e. promotion falls through or the salary increase associated with the promotion is not where it needs to be for us financially, and we have to stay in MA and thus bring the loan current. Does anyone have any idea as to what typical attorney fees are (am I looking at like thousands of dollars in just fees alone)? I am thinking I could call Citimortgage and potentially work something out with them, whether it be a forbearance or deferment, but not 100% sure on that

Any other thoughts as to what I could do to help plan for the worst case scenario? I know its sounds paranoid but we always seem to get bit in the a$$ when it comes to this stuff

Thanks in advance!

[Drazil65]

Hi, congrats on the possible promotion and move. I have to ask why you think you would have to pay an attorney? The debt is discharged and if you want to catch up you will have to work that out with the bank. If you end up staying for some reason why not stop paying as planned, forget catching up and stay there to save money to eventually move. Could be another 6 months to a year before you have to move, that's alot of saving! Have you checked with your bank to see if you can get a modification from them? You can do that with alot of them without being on the hook for the debt again. Good Luck at least it will be warmer in Nashville!

[laurannm]

Thanks Drazil. When I say attorney fees, I am referring to the fees a lender will typically tack on when you go into default