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LAM in Santa Barbara
Shawn: You are right, Judge Riblet does normally require a separate motion to suspend (and it's too late to file that if your hearing is in January). BUT, if the default motion will be heard on the same date as the confirmation hearing, you should be OK. They will normally be heard together, and once the default is approved there is no need to make the payments and the Plan should be confirmable (absent other problems).
David Commons
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> I have a client who has yet to be confirmed, an AP against their 2nd Deed of Trust has been filed, the deadline has passed and a motion for default has been filed, hearing is set. The client doesn't mind making an additional payment on the 2nd mortgage if necessary while waiting for the AP to be concluded.
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> My understanding (which may very well be wrong) is that Santa Barbara requires an Adversary Proceeding to Value Property and Extinguish the Lien.
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> They then require a separate Motion to Suspend Post Petition Payments on the 2nd Mortgage while the Adversary Proceeding is in progress.
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> If the Adversary is unopposed and a default has already been filed and a hearing for the default is already set is there any point in bringing the motion to suspend payments? Is it still necessary?
> Does the AP and/or Motion have to be completed to get confirmaton?
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> Any clarification would be appreciated.
>
The post was migrated from Yahoo.
I have a client who has yet to be confirmed, an AP against their 2nd Deed of Trust has been filed, the deadline has passed and a motion for default has been filed, hearing is set. The client doesn't mind making an additional payment on the 2nd mortgage if necessary while waiting for the AP to be concluded.
My understanding (which may very well be wrong) is that Santa Barbara requires an Adversary Proceeding to Value Property and Extinguish the Lien.
They then require a separate Motion to Suspend Post Petition Payments on the 2nd Mortgage while the Adversary Proceeding is in progress.
If the Adversary is unopposed and a default has already been filed and a hearing for the default is already set is there any point in bringing the motion to suspend payments? Is it still necessary?
Does the AP and/or Motion have to be completed to get confirmaton?
Any clarification would be appreciated.
The post was migrated from Yahoo.