What happens if I am behind on my mortgage payments during Chapter 13 Bankruptcy?

If you are behind on your mortgage payments and are looking to file for Chapter 13 Bankruptcy in California, there are a few things to consider. When you file for Chapter 13 Bankruptcy, you are creating a debt repayment plan that is overseen by the court. As part of this plan, you will need to include all of your debts, including those for your mortgage. Once your repayment plan is approved by the court, you will still be required to make your mortgage payments under the terms of the plan. This means that you will need to pay your mortgage company in addition to your other debts. You may be able to pay your mortgage at a lower rate, as part of the repayment plan, but you will still need to make all of your payments on time. If you fail to make any payments, including your mortgage payments, as part of the repayment plan, your bankruptcy may be dismissed and your debt could be reinstated. Furthermore, your mortgage company may choose to accelerate your mortgage payments, which means that they will require you to make all of the past due payments in a single payment instead of allowing you to spread them out over the duration of the plan. It is important to speak to an experienced bankruptcy attorney before filing for Chapter 13 Bankruptcy to determine the best way to handle your mortgage payments. Doing so could help you avoid any additional penalties and make sure your debt is managed properly.

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What happens if I am behind on my mortgage payments during Chapter 13 Bankruptcy?

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