Yep, I've been in a bunch of rain....the tenters always come a running. I don't have a snake for my hammock, just the tarp but there are several ways that I've done it.

Left the hammock in the bishop bag until I was ready to lay down.
I had a continuous ridge line on my tarp at one point and I pulled up the hammock, quilt and all and tie it off out of the way.
Or when my tarp was big enough just huddle under and get cozy with em...they were close friends