Should I pay my mortgage after bankruptcy? Well, that really depends upon if you want
to keep your home. IF you do, you’re going to have to continue
to pay the normal, monthly payment on your bankruptcy. That’s true if you’re in chapter 7 or if you’re
in chapter 13. Now, if you’re in chapter 7 and the mortgage
company has been foreclosing on your home and refusing to accept your payments, after
you file bankruptcy, they’ll probably resume accepting the payments, but once you added
bankruptcy, and that’s usually a 90-100-day period, they can resume the foreclosure sale
and then refuse to take your payments. So, paying the mortgage under those circumstances
doesn’t buy you a whole lot. If you’re in chapter 13 though, and you’ve
been in foreclosure but your you’re going to try to keep your home by curing the arrears
in chapter 13, which you are allowed to do, then by all means, yes, you must resume making
your mortgage payments if the mortgage company has been refusing them to accept them before
the bankruptcy. This way, you’re going to be making two payments
during the chapter 13; one to the mortgage company and one to the chapter 13 trustee
to help cure the arrears on your home mortgage. This is why chapter 13 can sometimes be a
difficult way to try to keep your home, because you’re making those two payments for 36 or
60 months depending on your case. My name is Ron Drescher. I’m an attorney practicing bankruptcy and
creditor’s rights, and if you have a question about whether you should pay your mortgage
after bankruptcy, please pick up the phone and call me. I would love to hear from you.