Q: If mortg arrears is put into ch13 payment, how do sufficient taxes/ins get pd (escrowed) on time w/o extra fees?
QUICK BACKGROUND: am 4 mos behind to WF; have a home, which we want to keep, w/ non filing spouse w/ some unprotected equity; the rest is all cc debt. BACK TO QUESTION: So this seems to place an extra burden on the lender to do extra stuff and I wonder if as a result there wd be extra payments to make up the difference and so wouldnt this defeat the purpose of putting this into ch13 payments? How will they come up w/ sufficient money to pay taxes and ins for example - both for the 4 mos of lost payments and for the inevitable increases to taxes and ins in subsequent years during the committment period? I wd be already at or over 100% of disposable income, so am concerned about finding the extra $ on my end - where wd it come from?
also , please note: I WILL absolutely work with a bk attny (this stuff is way too landmine filled for a non pro ). The initial consult simply said 'put into the ch13 payment', and I did not think of this question til later.
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A: When you did your budget, you should have factored in future tax and insurance payments.
John L. GreenLeaf Jr. agrees with this answer
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