Background of Issue:
Thank you for looking. My wife and I have recently come out of a Chapter 13 Bankruptcy. We filed for this protection in order to keep our home. The reason for us to do so came about after she has three major spinal cord surgeries, which all failed to fix her problem. This left her unable to work, and since has been disabled. I am employed full time and during the bankruptcy, all the payments were deducted from my pay which was voluntary. We have managed to keep our monthly utilities paid and very little money to buy day to day items. My wife does receive a monthly disability benefit, and that is used to help with her ongoing medical expenses. Out of her benefit she has to pay for her Medicare and the supplement. She does help pay on some necessary things for the home if she has money left over,which is on the rarest of occasions.
Our mortgage is an Adjustable Rate Mortgage. When we filed the Bankruptcy, the rate was not frozen and the court allowed the Mortgagor to raise the rate, but not the payment amount. So now at the end of the repayment period, our mortgage is $13000.00 behind. We were unaware of this interest and fee schedule due to the Mortgagor not informing us. When we did find out about the amount owed I contacted them and was informed that this was common practice, and the court would send the money to them after the discharge date. I have roughly $9000.00 to apply to this amount and any monies raised will be put with this. The plan is to have our attorney help with refinacing our home to get a fixed rate on interest, but the mortgage must be up to date before we can proceed.
Thanks to anyone that takes time to read, and God Bless all.