“Dear Steve,
My husband and I are behind on our Mortgage payments. After my husband hurt himself and was out of work for 3 months they put us on a 6 month repayment plan but it is coming to an end May 29th.
We have filed bankruptcy and wells fargo knows this. We would like to keep the house if possible. They are suggesting we apply for remodification on the loan at the end of our 6 month repayment plant.
Everyone is saying we should just stop paying and save as much money as possible until they kick us out.
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I called Wells Fargo and told them we are able to pay the full monthly amount now but we couldn’t come up with the past due amount.
I told them we could just start making the regular monthly payments again. They said that since we are behind (The repayment plan only pays for half of the mortgage) that unless I can come up with all the past due amount to make the loan 100% current, I have to apply for a loan remodification or walk away from the house. We owe 195,000 on the house an d it is now worth 120,000. Any advice?
Monique”
Dear Monique,
Did you file a chapter 13 bankruptcy that you are still in?
Or did you file a chapter 7 bankruptcy and discharge your mortgage?
Please post your responses and follow-up messages to me on this in the comments section below.
Facing a Similar Situation? You’re not alone — and you have more options than you think. Start with the all your debt relief options page to see what’s realistic, or take the 2-minute bankruptcy quiz if the debt feels unmanageable. Federal Reserve research shows filers recover faster than those who don’t file. If a company is involved, run them through the Scam-O-Meter first.
