Vicki Sitton wrote:
"We have our second mortgage with Homecomings. On our statement we
have a charge listed under Total Unpaid Amount. We are in chapter 13
bankruptcy. It seems that this charge is not being paid under our plan. This is creating a late fee EVERY MONTH. The charge increses with every
statement. We have tried to make an appointment with our BK lawyer
and have had no luck. I guess we will be on the phone this week since
they have not called us back. It started out at $1000 in August and is now
$1839. We have no idea what this is and/or why this is not being paid
under our bankruptcy. All I know is that it keeps getting bigger and bigger.
Any suggestion would be helpful. We are in a really big fight because
HomEq is our servicer for the large part of our loan and Homecomings is
servicing the second mortgage. I'm beginning to think that we just need to
pick up and move and let them have the damn house. We have no equity.
I just don't get it when these companies are being taken to court time and
time again and yet they still keep up their damn fraud. By now the whole
world knows about this and yet we have little hope. I JUST DON'T GET IT.”
Vicki I am not a lawyer and this is not intended as legal advice.
I sense your anguish over this double barreled problem. First of all it
needs to be said whether it relates to your immediate situation or not, that
the mainstream as well as the powers that be (Lawmakers) do not really
understand what goes on. I had a woman my age bring it up at a class I
attended last week and she was adamant with the mainstream idea, “Well
they just got in over their heads.” When I explained that mortgage servicers
frequently hold payments and charge unwarranted (unknown and
undocumented) drive-by inspections to generate artificial late charges when
the regular payments are skimmed off the top to pay this dubious charges
she didn’t believe it. “Well, they signed the note didn’t they?” was her response.
Next without rubbing salt in the wound but for the benefit of others I have
never ever encountered a single person who took bankruptcy who went on to
sing the praises of this alternative. To the contrary quite often (not always) they discovered that taking bankruptcy as a bandage solution led to even more
unexpected problems. I suspect such is the case with your immediate dilemma.
We/you don’t know this yet and won’t unless you verify it by checking but I
suspect the wording of your bankruptcy terms sealed your fate. It is possible
that there was a large balloon payment that needed to be paid off first before
you began your regular payments.
Check it out. I think you’ll find that you hastily agreed to pay a balloon
payment. It must be satisfied first Vicki.. It’s as simple as that if my guess is
I honestly hope my guess is wrong but to others out there, unless you
did something like hit and kill someone in your car and consequently face
a multimillion dollar judgment, bankruptcy is seldom the best choice.
Unfortunately I think you hit the nail on the head when you said, “I'm beginning
to think that we just need to pick up and move and let them have the damn
house. We have no equity.”
Ed Cage | 1804 Cross Bend, Plano Texas 75023 | email@example.com | 972-596-4363