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When to Stop Making Mortgage Payments in Chapter 7 Cases with Assets.

Feb. 22, 2016

Personally I advise my clients facing a situation like that to continue making the monthly mortgage payments on time every month until escrow closes and funds are distributed. If you stop making payments now you will accrue late fees and charges from the lender that will be added onto the loan thereby increasing the total amount you owe that lender and reducing the total recovery from the sale.