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Underwriters asking for "order for abandonment" when=
Here you are Holly
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Thu, March 24, 2011 1:38:17 PM
Subject: Re: [cdcbaa] Underwriters asking for "order for abandonment" whenlender already obtained relief from stay - am I missing something?
In that case, does anyone have a stip and proposed order that they can posthere? Thank you in advance.
Holly Roark
On Thu, Mar 24, 2011 at 1:36 PM, Joseph E. Caceres wrote:
>Contrary to sometimes popular belief, relief from stay does not take the
>property out of the estate, just gives lender right to enforce remedies
>notwithstanding the BK. Only things that effect an abandonment are formal
>abandonment order and order closing case.
>
>Joseph E. Caceres, Esq.
>Caceres & Shamash, LLP
>8200 Wilshire Blvd., Suite 400
>Beverly Hills, CA 90211
>Tel: (310) 205-3400 x 65
>Fax: (310) 878-8308
>E-mail: jec@locs.com
>
>From:cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Holly
>Roark
>Sent: Thursday, March 24, 2011 1:28 PM
>To: cdcbaa@yahoogroups.com; bk@nacba.org
>Subject: [cdcbaa] Underwriters asking for "order for abandonment" when lender
>already obtained relief from stay - am I missing something?
>
>
>I have had calls from debtors who are doing short sales where an underwriter is
>insisting on having an "order for abandonment" when the lender already obtained
>relief from stay to foreclose. Doesn't the relief from stay order (where the
>trustee has an opportunity to oppose but does not) effectively "abandon" the
>property and take it out of the estate? Am I missing something? Do you also
>need an "order for abandonment" in order for the debtor to sell the property?
>
>
>--
>Holly Roark
>holly@roarklawoffices.com
>www.roarklawoffices.com
>Central District of California
>Consumer Bankruptcy Attorney
>1875 Century Park East, Suite 600
>Los Angeles, CA 90067
>T (310) 553-2600
>F (310) 553-2601
>
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
Here you are Holly Kenneth Jay Schwartz, Esq.LAW OFFICE OF KENNETH JAY SCHWARTZ21031 Ventura Boulevard, Suite 640Woodland Hills, California 91364-2226Telephone: (818) 226-1205Facsimile : (818) 226-1213THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY
REVIEW, DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY. THANK YOU.From: Holly Roark <hollyroark22@gmail.com>To: cdcbaa@yahoogroups.comSent: Thu, March 24, 2011 1:38:17 PMSubject: Re: [cdcbaa] Underwriters asking for "order for abandonment" when lender already obtained relief from stay - am I missing something?
In that case, does anyone have a stip and proposed order that they can post here? Thank you in advance.Holly RoarkOn Thu, Mar 24, 2011 at 1:36 PM, Joseph E. Caceres <JEC@locs.com> wrote:
Contrary to sometimes popular belief, relief from stay does not take the property out of the estate, just gives lender right to enforce remedies notwithstanding the BK. Only things that effect an abandonment are formal abandonment order and order closing case.
Joseph E. Caceres, Esq.Caceres & Shamash, LLP
8200 Wilshire Blvd., Suite 400Beverly Hills, CA 90211Tel: (310) 205-3400 x 65Fax: (310) 878-8308
E-mail: jec@locs.com
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Holly Roark
Sent: Thursday, March 24, 2011 1:28 PMTo: cdcbaa@yahoogroups.com; bk@nacba.orgSubject: [cdcbaa] Underwriters asking for "order for abandonment" when lender already obtained relief from stay - am I missing something?
I have had calls from debtors who are doing short sales where an underwriter is insisting on having an "order for abandonment" when the lender already obtained relief from stay to foreclose. Doesn't the relief from stay order (where the trustee has an opportunity to oppose but does not) effectively "abandon" the property and take it out of the estate? Am I missing something? Do you also need an "order for abandonment" in order for the debtor to sell the property?
-- Holly Roark
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