Mortgage Forum

Mike

Good day all. I refi'd 2 years ago with the intention (like everyone else) on refi'ing in a year or so. However, things took a turn for the worst; divorce, lost job, etc... I became a real estate agent right before things took a dump. So I did odd jobs and the like for a year and a half. Needless to say, my mortgage payments were spotty at best. However, as I completed real estate transactions, I would send lump payments that would extend the situation at the same time, there were late fees and other fees applies, so the debt kept growing. I finally returned to my regular line of work, started working, worked out a payment plan through chapter 13 for the outstanding debt while paying the regular mortgage. In the midst of all that, due to the loan I structured, my interest rate skyrocketed to somewhere around 10.5% - nearly doubling my mortgage. Between the bk13 payment plan and my mortgage payment, now looking at close to $4K per month!!! Not to mention the house is upside down... So, while setting this up I was laid off of work - enough already! and I couldn't make the plan payment or the mortgage payment. i was re-hired about a month later. I feel like i'm in deep doo-doo at this point and of course after speaking with my bk13 attorney, I was. I was asked to bring in about $7,500 in 2 days or they would no longer rep me and they, along with chase would file a motion to relief. Needless to say, I didn't quite have that much cash. So I was informed after about a week of this motion to relief date, by my attorney that chase would accept a payment now and a 2nd payment shortly after. If a motion to relief is filed, why is the attorney contacting me? So, I decided to call chase and that hasn't been successful. One day the computers are down, the next day I can't get through - yada yada yada. I keep calling to confirm if chase will take the payments and if so, what do I get in return? Will they still put me in default again and file the foreclosure? Will I be given the opp to make a workout plan with them? I'm not sure what route to take at this point as my credit screwed for trying to save the home. I want to keep my home, but do not wish pay nearly $4,000 and an interest rate of almost 11%. I make good money and everything is steady. Thank you for any responses.