Ok I would love some advice. We had some hard times and in 2010 had to do Chap 7. We kept the house and since things have been ok. Last year my wife's business took a dive and we were lucky to unload it but between her trying to start earning income this year and my work slowing so no OT we found ourselves behind 2 months (2 1/2 really)
Last month we set up a repayment plan which is a normal payment this month and then $900 add for the next 3 months. We recently made our payment this month but unexpected bills then came up so I know there is no chance we make the next months payment (just the extra $900 on top of our regular). I figured we should try for HAMP instead since we are close to making enough to pay everything each month but nothing extra so trying to recoup the back amount owed is impossible. Everything else is current, the late fee for the mortgage is the same as any small payment so it makes sense plus that is already noted as discharged.
My question is if we are 2 months behind and going to try for HAMP should I try to make the full (+$900) payment next month and end up being late on other items? Should I even make any payment? Skipping one more payment would help get our finances a little better but we can scrap by if it helps our HAMP changes.
Last month we set up a repayment plan which is a normal payment this month and then $900 add for the next 3 months. We recently made our payment this month but unexpected bills then came up so I know there is no chance we make the next months payment (just the extra $900 on top of our regular). I figured we should try for HAMP instead since we are close to making enough to pay everything each month but nothing extra so trying to recoup the back amount owed is impossible. Everything else is current, the late fee for the mortgage is the same as any small payment so it makes sense plus that is already noted as discharged.
My question is if we are 2 months behind and going to try for HAMP should I try to make the full (+$900) payment next month and end up being late on other items? Should I even make any payment? Skipping one more payment would help get our finances a little better but we can scrap by if it helps our HAMP changes.