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Ch 7 and Reverse Mortgage Issue
yesPeter M. Lively, J.D., M.B.A.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Thursday, December 4, 2014 2:05 PM, "Michael Manning mike@manninglawoffice.com [cdcbaa]" wrote:
Hello all: I was curious if any of you had experience dealing with reverse mortgages in the context of a Ch 7. Currently I have an elderly client who would like to file a Ch 7, however, she has a reverse mortgage that is her primary source of income. The property itself does not have any equity in it but in doing some research I've seen that in some instances a Ch 7 filing can result in the lender ceasing payments to the borrower. I know that reaffirmation is not required since nothing is being discharged but I don't want my client to stop receiving paymens. Any input is welcome thanks! Mike Mike Manning 4667 MacArthur Blvd., Suite 150 | Newport Beach, California 92660 o 949.200-8757 ext 1009 | f 866.843.8308 mike@manninglawoffice.com manninglawoffice.com Important Consumer Discolsure The Law Offices of Joseph R. Manning, Jr., APC believe in adhering to the highest ethical standards in the practice of law. Consequently, this law office voluntarily provides potential clients with consumer protection disclosures: Please email me for a copy of these disclosures or visithttp://www.manningloanlaw.com/billofrights.html The information contained in this electronic transmission is attorney privileged and confidential information intended only for the recipient(s) named above. If you are not the intended recipient dissemination, distribution or copying is strictly prohibited. If you received this communication in error please notify the sender via telephone and delete this transmissio
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Hello all:
I was curious if any of you had experience dealing with reverse mortgages in the context of a Ch 7.
Currently I have an elderly client who would like to file a Ch 7, however, she has a reverse mortgage that is her primary source of income. The property itself does not have any equity in it but in doing some research I've seen that in some instances a Ch 7 filing can result in the lender ceasing payments to the borrower.
I know that reaffirmation is not required since nothing is being discharged but I don't want my client to stop receiving paymens.
Any input is welcome
thanks!
Mike
Mike Manning
4667 MacArthur Blvd., Suite 150 | Newport Beach, California 92660
o 949.200-8757 ext 1009 | f 866.843.8308
mike@manninglawoffice.com
manninglawoffice.com
Important Consumer Discolsure
The Law Offices of Joseph R. Manning, Jr., APC believe in adhering to the highest ethical standards in the practice of law. Consequently, this law office voluntarily provides potential clients with consumer protection disclosures: Please email me for a copy of these disclosures or visit http://www.manningloanlaw.com/billofrights.html
The information contained in this electronic transmission is attorney privileged and confidential information intended only for the recipient(s) named above. If you are not the intended recipient dissemination, distribution or copying is strictly prohibited. If you received this communication in error please notify the sender via telephone and delete this transmission. Thank you.
Hello all:
I was curious if any of you had experience dealing with reverse mortgages in the context of a Ch 7.
Currently I have an elderly client who would like to file a Ch 7, however, she has a reverse mortgage that is her primary source of income. The property itself does not have any equity in it but in doing some research I've seen that in
some instances a Ch 7 filing can result in the lender ceasing payments to the borrower.
I know that reaffirmation is not required since nothing is being discharged but I don't want my client to stop receiving paymens.
Any input is welcome
thanks!
Mike
The post was migrated from Yahoo.
X-Original-Return-Path: Michael Manning
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
Hello all:
I was curious if any of you had experience dealing with reverse mortgages in the context of a Ch 7.
Currently I have an elderly client who would like to file a Ch 7, however, she has a reverse mortgage that is her primary source of income. The property itself does not have any equity in it but in doing some research I've seen that in some instances a Ch 7 filing can result in the lender ceasing payments to the borrower.
I know that reaffirmation is not required since nothing is being discharged but I don't want my client to stop receiving paymens.
Any input is welcome
thanks!
Mike
Mike Manning
4667 MacArthur Blvd., Suite 150 | Newport Beach, California 92660
o 949.200-8757 ext 1009 | f 866.843.8308
mike@manninglawoffice.com
manninglawoffice.com
Important Consumer Discolsure
The Law Offices of Joseph R. Manning, Jr., APC believe in adhering to the highest ethical standards in the practice of law. Consequently, this law office voluntarily provides potential clients with consumer protection disclosures: Please email me for a copy of these disclosures or visit http://www.manningloanlaw.com/billofrights.html
The information contained in this electronic transmission is attorney privileged and confidential information intended only for the recipient(s) named above. If you are not the intended recipient dissemination, distribution or copying is strictly prohibited. If you received this communication in error please notify the sender via telephone and delete this transmission. Thank you.
Hello all:
I was curious if any of you had experience dealing with reverse mortgages in the context of a Ch 7.
Currently I have an elderly client who would like to file a Ch 7, however, she has a reverse mortgage that is her primary source of income. The property itself does not have any equity in it but in doing some research I've seen that in
some instances a Ch 7 filing can result in the lender ceasing payments to the borrower.
I know that reaffirmation is not required since nothing is being discharged but I don't want my client to stop receiving paymens.
Any input is welcome
thanks!
Mike
The post was migrated from Yahoo.