Hi! It has been awhile since i posted here! If you don't remember, i filed bk 7 in October and got my discharge just March 26th. I was in desperate need of a vehicle, and got one a few weeks ago. The intrest is cruel, but i knew that would be the case. Here is my situation now...i was behind on mortgage when i filed, but had worked out a forbearance plan and have kept right on paying all these months. Now, that we have the discharge, the mortgage co is saying that the forbearnace is null and void and they want it to be brought current now. Well...i don't have all the money it would take to bring it current now. Is there any company out there that would do a refinance with the bk so fresh?? I am finding that no one will do it unless it has been atleast a year. Or would it be best to let this house go (which we don't want to do unless it is last resort) and rent for awhile until we pass that 2 year mark where we could get a FHA mortgage loan and buy again? I need some of your expert advice???? TIA
I have never been in your situation so I don't know if my advice will be worth anything, but here goes. DO NOT LET THE HOUSE GO INTO FORECLOSURE. With the BK still so new you will find that trying to find an apartment to rent will be utter hell. Unless, you have a co signer with good history who is willing to lease the apartment in their name, it will be hard to get one. Plus, you have the trouble of packing,relocating, etc. Is there anyway possible to catch up on the mortgage payments - a loan from a family member (I know a big no-no, but desperate times call for desperate measures), a part-time job, stocks or 401K plan that you could borrow from? Dani
Personally I would NOT let my house go I realize you need a vehicle, we all do at times , but if there is anyway to sell your vehicle and get yourself an inexpensive used car?? Our van is on it's last leg, and we too need a vehicle, but since we can not comfortably afford a car payment, we have decided to find and inexpensive used vehicle. I hope you find a solution, but pray you don't loose your house because of it
Thanks for the advice....i talked to the mortgage guy again and he said for now to just gather up as much money as possible and they would call me within a few weeks and see if we could set up another forbearnce to try and get me current! I can hopefully save up a couple of payments by then and hopefully we can work something out that fits in the budget!! The van we got was a used, fairly in expensive one mom...we certainly could not afford a new one! :-( Thanks again for the advice..i sure wish i could get it refiannced and catch up that way...but i guess i am dreaming on that one, huh??
Make sure you get everything in writing. Sounds like you are talking to the right person. If you have been making the payments on thime since the BK they will probobly try to help you out. Always talk to the same guy in person if its possible.
