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Loan Mod with Aurora - they claim they need a letter from the Trustee.
File a motion to enter into a loan modification with the Court.
That is what we routinely do. The judge needs to approve it, not the
trustee. Talk to someone in Aurora's BK dept (or their outside counsel-
see the POC) who isn't an idiot. J
Eva L. Taylor, Esq.
Borowitz & Clark, LLP
100 N. Barranca Ave., Ste. 250
West Covina, CA 91791
Ph: 626-332-8600
Fax: 626-332-8644
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CH 13 case. The debtor got a verbal ok for a loan mod from Aurora and are in the trial phase. Now Aurora is saying they won't make it permanent unless they get a letter from the trustee saying they are allowed to give the debtor's a loan mod. I tried to explan until I was blue in the face that this is a 13 not a 7 and that the trustee has no interest in or control over whether the debtor's get a loan mod as long as the debtors make their payments as required by the lender. No luck. The debtors are in a panic.
I asked the CH 13 trustee for a letter and she said no - that she doesn't have the authority grant or deny the lender permisson to offer a loan mod (which is correct of course) and that what I needed to do was file a motion for relief from stay for loan mod purposes. I can make the motion but I was wondering if anyone knows does this require an appearance? 21 days notice? and do I need to give notice to any party other than the trustee and the 1st mortgage? Anyone else run into this issue?
Shawn
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