We were grateful for your offices service and help with our bankruptcy. But we were shocked to find out that our home wasn't protected by the bankruptcy as we had been told. We had been in touch with the bank/mortgage company already working on the process (and still are) of setting up a workout plan or loan modification to catch up our mortgage payment that is 2 months in arrears. When we had asked your office about the bankruptcy protecting our home we had been asked if we were delinquent in our payments and we said we were, we were told to work on catching up on the payments... NO ONE stressed the fact that the mortgage company could ask the court for the relief of stay protection from the bankruptcy and start foreclosure proceedings. Then about 2 days before the bankruptcy hearing we get this packet in the mail with a bunch of legal papers that we don't understand. I called your office right away and asked what it was about and was told don't worry just contact the bank ("they really don't want the property") and start working out the late payment (Which I was already in the process of doing). The question about the letter of objection was never answered as if it wasn't important. A couple of days later, after the hearing when I asked Michael about needing a letter of objection to the court he quoted me a fee of $1500. to work up the letter to the court and an additional $2500. to stand for us in the court.(That's $4000.) If we could come up with that kind of cash we wouldn't be in this trouble to begin with. It took us over 6 months to raise the cash to retain your office to begin with. We CAN work out a payment plan to catch up a little at a time, not all at once. Now we may loose our home.
As much as you patiently worked with us to get the bankruptcy set up, our property inventory, etc. we were not well informed as to what "Our Home Is Protected by the Bankruptcy" means. We were told to work on getting the payments caught up but not told that if they are behind we are NOT PROTECTED.
Maybe that information is in all of the paperwork that you emailed us. I'm not a great retentive reader (I can read a book several times and its always like reading it all new again.) I learn from hands-on and what I hear when there are no other distractions.
We have been in our present REFINANCED Mortgage loan (we borrowed against our equity to pay off some of our credit cards)for less than 5 years (with a modification about 2 years ago) so the amount of our equity is less than 10% so no foreclosure protection there. I am 63 years old, disabled (on S.S.D.I.)unable to work a regular job. IF WE LOOSE OUR HOME WE LOOSE EVERYTHING I can't start over at my age with my disabilities. And I'll be homeless and on the street. Where did the bankruptcy protect our home?
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