?? about monthly mortgage statements after filing.

[pd1373]

I was just curious how Citimortgage handled statements, etc. on non-reaffirmed mortgages. Also curious if they will start sending "informational only" statements once you are discharged

I don't know, myself. I haven't gotten my reaffirmation paperwork to sign yet, so I'm honestly not sure what's going to happen. I won't be discharged for another couple weeks.

[laurannm]

Thanks

Are you planning on reaffirming or doing the ride-through?

[pd1373]

We'll reaffirm if we ever get the paperwork. We just built the place last summer. We have a fixed rate mortgage with a decent rate and we expect to be there for many years to come.

[laurannm]

We are in a similar boat, good interest rate on our mortgage (albeit upside down currently) but plan on being in the house for the foreseeable future. But given that we are upside down, I doubt we will reaffirm.

Keep us posted on if if\when you receive the paperwork though...curious if in fact they will actually send it (sounds like some lenders don't even bother sending it out or don't get it out in time)

[Teddy]

I did finally receive my Citi statement, of course it said for informational purposes only.

[pd1373]

The reaffirmation paperwork finally arrived today from the lawyer's office for my house and two cars. They are written as though we hadn't been making payments. I suppose that is because, as I understand it, we wouldn't have been legally obligated to so until we filed the reaffirmation agreements - the lawyer reminded us that we needed to send in a payment immediately if we intended to reaffirm. Of course, we've been keeping up with the payments on these so no problem there. I expect that once the reaffirmation paperwork reaches CitiMortgage that our statements will no longer be "information only" and become normal monthly statements again, with all the disadvantages (late fees if we don't pay on time) thereof.

[laurannm]

Interesting...and your lawyer still recommends signing them?

[dragonnfly]

I have read a lot on here about people not wanting to reaffirm their mortgages. I am in a completly different situation. We have one mortgage that is a 5/1 ARM meaning we have 5 years to switch it over to fixed and it would be 2% above prime. We have until 08/09 to convert that to fixed. With the rates falling we are holding out to see if they fall again. Plus with us filing I dont know if they will let us convert. Our second mortgage is a 3 year fixed (3 years ending 07/09)and then for the remaining 12 years adjustable. They sent a reaffirmation agreement lowering the intrest rate 3% and converting it to a fixed rate for the whole term! Our intentions were to hopefully get dischaged by Aug. and then pay everything on time (and forever) and in 2 years refi. This sounds like a excellant plan but the ARMs worried me the most. This fixed reaffirm is the best offer I can have right now and one less thing to worry about. Just make sure you read your reaffirm offers before you dont sign them. Our lawyer initially didn't want us to sign it because its still not a good rate but its better then the current. After I explained our plan he agreed to signing it.

[pa308]

Can you ever get automatic payment set up again for the mortgage? I still have 20 odd years to go on mine and I am keeping the house but hopefully wont have to write a check every month for the next twenty years.

[pd1373]

Interesting...and your lawyer still recommends signing them?

I'm in the 7th Circuit. They don't recognize ride-through here (same as in 1st, 5th and 11th.) If I want to keep the house and cars I have to reaffirm.

Among my lawyer's contracted services was to negotiate these agreements, and he had sent them to the creditors shortly after we filed. Certainly took long enough to get them back......the terms on all three debts exactly match my pre-bankruptcy terms. *shrug* Oh well.

[laurannm]

Glad you mentioned the circuits because I am in the 1st circuit, and I did read something that mentioned some citcuits do not recognize a ride-through. Yet all 4 lawyers I consulted with all recommended that I do not reaffirm and that I would have no problem keeping the house/cars.

Maybe someone else can chime in as well, but were these lawyers wrong in telling me I would not have to reaffirm? Or does not recognizing a ride-through simply mean that I have to select reaffirm on the statement of intentions, but not necessarily file the agreement?

[poor@budgeting]

We have a coupon booklet for our primary loan so that just gets sent to the main office(not to the lock box that is on the payment coupon with a standard letter drafted by our lawyer. Online access works(showing all info) except for online payment.

We also have a HLC that we receive monthly statement(with disclaimer that it is for information only..yadayada. Sending the payment to either the lock box or main office is acceptable.

Car payment statement stopped so we just make a copy of an old bill and send it with the check to the same lock box address....no issues. Pay by phone works too.

[toomuch]

Hubby got a second notice from his lawyers office that he needs to reaffirm the mortgage. He never got a first notice. So I called and was told by one of the gals that in a 13 you don't have to reaffirm. Only in a 7. (He filed a 13 and we definitely want to keep the house).

As for the OP original question, they immediately stopped sending us statements too. No internet access either. We can send it Western Union, by mail or pay by phone for a fee of $16.95.

Toomuch