If you are facing foreclosure, you may wonder how to address post-petition arrears on your mortgage. The process of resolving post-petition mortgage arrears involves a number of steps. If you have not cured the arrears in the past, the lender may want to seek further action. This will require a thorough evaluation of the circumstances surrounding the arrears.
Unlike bankruptcy, post-petition arrears on your mortgage can only be addressed with the help of a professional. Usually, your mortgage payment is handled by the Trustee’s office. This office will file a monthly report with your creditor and send it to them. However, your mortgage payment amount can fluctuate from month to month. That’s why it is important to address your post-petition arrears as early as possible.
If you have fallen behind on your mortgage payments after filing for bankruptcy, you need to know your legal rights. In my home state, the bankruptcy court in Evans found that Debtors failed to meet their post-petition mortgage payments. While this situation is extremely unusual, the Court’s decision is consistent with Formaneck v. Wade and Heinzle. Both cases require debtors to stay current on their mortgage payments until the end of their plan.