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Lien Strip Investment Property
Yes. and more in the right circumstances.
On Apr 15, 2011 5:49 PM, "Paul Horn" wrote:
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>
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> Is lien stripping on the 2nd mortgage allowed for an investment house?
>
> Thanks
>
> Paul Horn
> Attorney at Law
> Certified Public Accountant
> 1045 E. Valley Blvd., Suite A215
> San Gabriel, CA 91770
> 800-380-7076
>
>
Yes. and more in the right circumstances.
On Apr 15, 2011 5:49 PM, "Paul Horn" <attorneypaul2000@yahoo.com> wrote:
>
>
>
> Is lien stripping on the 2nd mortgage allowed for an investment house?
>
> Thanks
>
> Paul Horn
> Attorney at Law
> Certified Public Accountant
> 1045 E. Valley Blvd., Suite A215
> San Gabriel, CA 91770
> 800-380-7076
>
>
The post was migrated from Yahoo.
We all owe Peter a beer for his efforts in these matters and his willingness to stick his mug out.
>
> No requirement for 100% undersecuredwhen using 506 on real property that is not
> debtor'sprimary residence.
>
> Regarding109 debt limits resulting from use of 506, yesterday my clients filed
> their notice of appeal and notice of election to be heard by district court on
> that issue.
>
>
> Peter M. Lively, JD, MBA
> The Personal Financial Law Center* Culver City & Costa Mesa * 800-307-DEBT
>
>
>
>
>
>
> ________________________________
> To: "cdcbaa@yahoogroups.com"
> Sent: Fri, April 15, 2011 7:59:22 AM
> Subject: Re: [cdcbaa] Lien Strip Investment Property
>
>
> If WHOLLY unsecured. And in NOT principal residence may be able to strip first,
> however be weary of the debt limits and whether debtor can pay whole anoint
> through plan. We have done this with cases where there is property in Arizona or
> riverside and it's affordable.
>
> CS
>
> Sent from my iPhone
>
> On Apr 15, 2011, at 7:56 AM, "Paul Horn" wrote:
>
>
>
> >Is lien stripping on the 2nd mortgage allowed for an investment house?
> >
> >Thanks
> >
> >Paul Horn
> >Attorney at Law
> >Certified Public Accountant
> >1045 E. Valley Blvd., Suite A215
> >San Gabriel, CA 91770
> >800-380-7076
> >
> >
>
The post was migrated from Yahoo.
No requirement for 100% undersecuredwhen using 506 on real property that is not
debtor'sprimary residence.
Regarding109 debt limits resulting from use of 506, yesterday my clients filed
their notice of appeal and notice of election to be heard by district court on
that issue.
Peter M. Lively, JD, MBA
The Personal Financial Law Center* Culver City & Costa Mesa * 800-307-DEBT
________________________________
To: "cdcbaa@yahoogroups.com"
Sent: Fri, April 15, 2011 7:59:22 AM
Subject: Re: [cdcbaa] Lien Strip Investment Property
If WHOLLY unsecured. And in NOT principal residence may be able to strip first,
however be weary of the debt limits and whether debtor can pay whole anointthrough plan. We have done this with cases where there is property in Arizona or
riverside and it's affordable.
CS
Sent from my iPhone
On Apr 15, 2011, at 7:56 AM, "Paul Horn" wrote:
>Is lien stripping on the 2nd mortgage allowed for an investment house?
>
>Thanks
>
>Paul Horn
>Attorney at Law
>Certified Public Accountant
>1045 E. Valley Blvd., Suite A215
>San Gabriel, CA 91770
>800-380-7076
>
>
No requirement for 100% undersecured when using 506 on real property that is not debtor's primary residence.
Regarding 109 debt limits resulting from use of 506, yesterday my clients filed their notice of appeal and notice of election to be heard by district court on that issue.
Peter M. Lively, JD, MBA
The Personal Financial Law Center * Culver City & Costa Mesa * 800-307-DEBT
From: Charles Shamash <CS@locs.com>To: "cdcbaa@yahoogroups.com" <cdcbaa@yahoogroups.com>Sent: Fri, April 15, 2011 7:59:22 AMSubject: Re: [cdcbaa] Lien Strip Investment Property
If WHOLLY unsecured. And in NOT principal residence may be able to strip first, however be weary of the debt limits and whether debtor can pay whole anoint through plan. We have done this with cases where there is property in Arizona or riverside and it's affordable.
CSSent from my iPhone
On Apr 15, 2011, at 7:56 AM, "Paul Horn" <attorneypaul2000@yahoo.com> wrote:
Is lien stripping on the 2nd mortgage allowed for an investment house? Thanks
Paul HornAttorney at LawCertified Public Accountant1045 E. Valley Blvd., Suite A215San Gabriel, CA 91770800-380-7076
The post was migrated from Yahoo.
Yes, but be careful, debtors often sign notes which say the are going to live in the properties and judges may find this situation to be a residential mortgage and not allow a strip.
Dennis
Sent from my iPhone
On Apr 15, 2011, at 7:56 AM, Paul Horn wrote:
> Is lien stripping on the 2nd mortgage allowed for an investment house?
>
> Thanks
>
> Paul Horn
> Attorney at Law
> Certified Public Accountant
> 1045 E. Valley Blvd., Suite A215
> San Gabriel, CA 91770
> 800-380-7076
>
>
Yes, but be careful, debtors often sign notes which say the are going to live in the properties and judges may find this situation to be a residential mortgage and not allow a strip.DennisSent from my iPhoneOn Apr 15, 2011, at 7:56 AM, Paul Horn <attorneypaul2000@yahoo.com> wrote:
Is lien stripping on the 2nd mortgage allowed for an investment house? Thanks Paul HornAttorney at LawCertified Public Accountant1045 E. Valley Blvd., Suite A215San Gabriel, CA 91770800-380-7076
The post was migrated from Yahoo.
Is lien stripping on the 2nd mortgage allowed for an investment house?
Thanks
Paul Horn
Attorney at Law
Certified Public Accountant
1045 E. Valley Blvd., Suite A215
San Gabriel, CA 91770
800-380-7076
Is lien stripping on the 2nd mortgage allowed for an investment house? Thanks Paul HornAttorney at LawCertified Public Accountant1045 E. Valley Blvd., Suite A215San Gabriel, CA 91770800-380-7076
The post was migrated from Yahoo.