Re: Mortgage pymnt/bankcruptcy/foreclosure/HELP

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Posted by Janie on September 20, 2004 at 17:02:08:

In Reply to: Re: Mortgage pymnt/bankcruptcy/foreclosure/HELP posted by Emelita Hawley on September 20, 2004 at 16:23:14:

The typical chapter 13 bankruptcy plan ranges from 3- 5 years. You consolidate all past due bills into one payment plan.

During the time you are making payments to the trustee, you can have your home for sale.

If your goal is to protect your credit rating, then go talk to Washington Mutual before it becomes a crisis. Sit down and create several plans that will work for you.

Such as, interest only payments; putting all payments, plus the next six months's payments, on the tail end of the loan, etc.

Then go talk to WA Mut. Trust me, they are much more likely to work with you if go talk to them before they begin foreclosure. It's when people cut them off and hide, that causes problems.

Tell them your utlitmate plan is to sell the house.

I am sure they will work a solution with you. It may not be the solution you want, but it will something you can live with.

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Comments:
: The typical chapter 13 bankruptcy plan ranges from 3- 5 years.  You consolidate all past due bills into one payment plan.

: During the time you are making payments to the trustee, you can have your home for sale.    

: If your goal is to protect your credit rating, then go talk to Washington Mutual before it becomes a crisis.   Sit down and create several plans that will work for you.

: Such as, interest only payments;  putting all payments, plus the next six months's payments, on the tail end of the loan, etc.

: Then go talk to WA Mut.  Trust me, they are much more likely to work with you if go talk to them before they  begin foreclosure.  It's when people cut them off and hide, that causes problems.

: Tell them your utlitmate plan is to sell the house.  

: I am sure they will work a solution with you.  It may not be the solution you want, but it will something you can live with.


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