Q: I fell behind on my mortgage payments, and my lender wants to foreclose !
My wife passed away and I fell behind on my mortgage payments. My lender wants to foreclose. So I filed chapter 13, I now have a job making plenty of money to pay my mortgage & the back arrears. My daughter just got a good paying job and my brother all who live with me are now helping me pay the mortgage, back arrears and the bills. The lender says, I still don't have enough income. I have over $ 100,000 coming in a year and in Jan. I can apply for part of my wife's SSDI. My total mortgage is $226,000. But the lender says, they would rather foreclose. Now that I am paying my mortgage & back arrears I have to go to court to get my mortgage reinstated. The lender says, they will stop me and get my home. What are my chanced of keeping my home ? Fighting back in New Jersey !
A: Hire a competent bankruptcy attorney in NJ and your chances of retaining the home are pretty good if the income info is correct.
1 user found this answer helpful
A: If you are at the start of your chapter 13,apply for loss mitigation. If you have the income most banks rather get paid than foreclose. There are also people that will try to buy your note from the bank if you know where to look.
1 user found this answer helpful
A: I am not sure why this is an issue. Amend your plan to show the new numbers and make the payments.
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