• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Motion for Relief from Stay

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

S

scourt8232

Guest
What is the name of your state? mo

I just spoke with my attorney and he is trying to work out a 6 mo break down of what I owe on past due mortgage ( I am 2mo's late AGAIN after filing my chapter 13. Mortgage company has filed a relief from stay. My question is this : the attorney said est. payments will probably be 436.00 for 6 mos. my mortage payments are 654.04 on the 1st of the month, I'm in SHOCK!! I'm thinking there is NO WAY!!!!i can do this, " He said mathmatically i don't know if you can do this" but I will contact att. from creditor and work some numbers. What should I do? Ethically can a lawyer and trustee know there is NO way income can withstand this? I know it's my own fault, but I'm what are my options? Attorney is very to the point and does'nt seem to have time for other options or opinions.

Thanks..
 


Ladynred

Senior Member
Ethically can a lawyer and trustee know there is NO way income can withstand this?
I don't think this is a matter of ethics, really. Ch 13 is VERY tough, and it FAILS 65% of the time !!! I've seen many posts where a lawyer/trustee gave someone a number for their plan payments but when the ACTUAL number came down is was grossly higher.

The devil is in the details. If you absolutely can't make the plan payments, you can't do it. However, have you looked at your expenses ?? Did you and your lawyer get them maxed as high as they would tolerably go ?? If not, you may want to re-visit your expenses and see if you can modify your plan to get the payments down.

Is the arrearage the reason you chose Ch 13 ??
 

HomeGuru

Senior Member
scourt8232 said:
What is the name of your state? mo

I just spoke with my attorney and he is trying to work out a 6 mo break down of what I owe on past due mortgage ( I am 2mo's late AGAIN after filing my chapter 13. Mortgage company has filed a relief from stay. My question is this : the attorney said est. payments will probably be 436.00 for 6 mos. my mortage payments are 654.04 on the 1st of the month, I'm in SHOCK!! I'm thinking there is NO WAY!!!!i can do this, " He said mathmatically i don't know if you can do this" but I will contact att. from creditor and work some numbers. What should I do? Ethically can a lawyer and trustee know there is NO way income can withstand this? I know it's my own fault, but I'm what are my options? Attorney is very to the point and does'nt seem to have time for other options or opinions.

Thanks..
**A: remember that in a BK 13, you will have 2 mortgage payments every month. The regular contracted monthly payment and your BK 13 payment plan mortgage payment to cover the arrears. If you cannot pay both as agreed on time, then you will have to sell the property or let the Trustee or lender sell it at at BK or foreclosure sale. Something does not sound right with your payment plan payments as the total amount in arrears should be run over a period of 3-5 years and not 6 months. Regardless, if you are late with either your regular mortgage payments or your payment plan payments, the Court must grant the motion for relief of automatic stay allowing the mortgage lender to exercise their right to foreclose on the property.
 
S

scourt8232

Guest
The reason we chose chapter 13 was equity in home and frankley needing a roof over our head. Our mortgage payment is probably less than rent anywhere. However , we have been in chapter 13 one year this month, we haven't missed a plan payment but got behind in mortgage again that's when they asked for the relief from stay. The 6 mo deal is a stipulation that is entered into the court to pay your back mortgage payment post filing the 13. We were behind 2 mos when we filed however that's included and being paid in our plan payment.

Thanks for you quick reply .
 
O

ogwhit

Guest
OK let me tell you just what happened to us.
Our mortgage company didn't receive our very first post-petition payment, for months they didn't say anything , then all of a sudden when they realized that one payment was not a large enough amount to file for relief from stay , they decided to place payments in suspense to make us in arrears artificially. They filed the motion, they claimed we owed them $366 in arrears, a stipulation was worked out and it was paid, this was all in August 2001. The stipulation stated we should start making payments in the amount of $722.20 every month, we have paid $723-730 ever since, not missing one single payment or being late. Fast forward to April of this year, they filed for default of the stipulation because we didn't pay $678.94 a month ! We have caught them in so many mistakes in their accounting that they removed the default motion , but WE filed a motion against them this time, guess what? they are doing everything they can to have us drop the issue, we took the hearing off the list with the agreement someone from the company would call us to straighten things out within 30 days, they haven't called so this week we are re-listing the hearing, now they will have to appear in court.
You should see the album I got with all the documents and forms and everything else, my attorney laughs and says I got my ducks on a row and the mortgage company has no clue what they are doing, he calls it the right hand doesn't know what the right hand is doing. Yesterday I happened to speak to "their attorney" and he says that everything is fine now....HELL NO, they still have a lot of explaining and correcting to do, and they will do that in court!
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top