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Home >> Lending >> Home Mortgage
Bankrupt and Waiting for Foreclosure
We filed for Chapter 13 back in 2008. Unfortunately, we have been unable to pay our mortgage since March, 2009. Our loan was sold in November, 2009, and we just received a mortgage statement from the new lender for December, 2009. If we are able to pay our mortgage now, do we begin making payments now for December? Do we still owe the old lender payments from March to November? Can we get our bankruptcy payments modified, or do we just wait for foreclosure, like we've been doing?
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 You call your bankruptcy attorney.
Your debt is still owed. The lender who bought your loan has the entire debt and will want the back payments. The questions are, will they accept less than all the monthly payments now owed; will they work with you on the payments; will the court allow you to do this outside of your plan or in a newly modified plan? Call your attorney and ask him what the court will require, and then possibly call the new servicer and try to make payment arrangements, assuming that you want to keep the home.
Published on BankingQuestions.com 12/17/09
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