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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Ward.. In response to foreclosure and bankruptcy tool Posted by Randy (SD) on December 18, 2003 at 12:50 AM In Reply to: Ward.. In response to foreclosure and bankruptcy tool posted by Mindy on December 18, 2003 at 9:33 AM You are correct; in a chapter 13 bankruptcy mortgage arrearages are included in the payment plan structured by the bankruptcy trustee. The debtor must continue making the current mortgage payments in addition to the payment plan structured by the trustee. There is one important caveat that you should know, many mortgage lenders will continue to report the mortgage 60-90 days late for the duration of the plan. For example if the debtor is 90 days delinquent when they do in to chapter 13 and it's a 36 months plan the mortgage lender will report the mortgage 36X90 (and you think they had bad credit before the 13). Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : You are correct; in a chapter 13 bankruptcy mortgage arrearages are included in the payment plan structured by the bankruptcy trustee. The debtor must continue making the current mortgage payments in addition to the payment plan structured by the trustee. : There is one important caveat that you should know, many mortgage lenders will continue to report the mortgage 60-90 days late for the duration of the plan. For example if the debtor is 90 days delinquent when they do in to chapter 13 and it's a 36 months plan the mortgage lender will report the mortgage 36X90 (and you think they had bad credit before the 13). Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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