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Loan mods: 13 vs. 7
No second.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
Does the Debtor have a 2nd mortgage to discharge?
On Mon, Aug 2, 2010 at 1:41 PM, Patrick Green wrote:
>
>
> Aside from the protection from foreclosure if a ch 13 plan is approved,
> what are the pros and cons for 7s or 13s in terms of obtaining a loan
> modification? Client has hired someone to do loan mod work. They are
> telling him that Ch 7 is better because the lenders like to see the
> unsecureds discharged. Client would probably have 0% plan and notice of
> default has been recorded, with late August for three month time frame. I
> would assume that 7 is better when there is no notice of default recorded,
> but here it would be far too risky.
>
>
>
> Your thoughts and experience please.
>
>
>
> If you have any questions or concerns, please contact me.
>
>
>
> Pat
>
>
>
> Patrick T. Green, Esq.
>
> Fitzgerald & Green
>
> Attorneys at Law
>
> 1010 E. Union Street
>
> Suite 206
>
> Pasadena, CA 91106
>
> Tel: 626-449-8433
>
> Fax: 626-449-0565
>
> pat@fitzgreenlaw.com
>
>
>
>
>
>
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (323) 304-5496
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Does the Debtor have a 2nd mortgage to discharge?On Mon, Aug 2, 2010 at 1:41 PM, Patrick Green <pat@fitzgreenlaw.com> wrote:
Aside
from the protection from foreclosure if a ch 13 plan is approved, what are the
pros and cons for 7s or 13s in terms of obtaining a loan modification? has hired someone to do loan mod work. They are telling him that Ch 7 is
better because the lenders like to see the unsecureds discharged. Client
would probably have 0% plan and notice of default has been recorded, with late
August for three month time frame. I would assume that 7 is better when
there is no notice of default recorded, but here it would be far too
risky.
Your
thoughts and experience please.
If
you have any questions or concerns, please contact me.
Pat
Patrick
T. Green, Esq.
Fitzgerald
& Green
Attorneys
at Law
1010
E. Union Street
Suite
206
Pasadena,
CA 91106
Tel:
626-449-8433
Fax:
626-449-0565
pat@fitzgreenlaw.com
-- R. Grace Rodriguez, Esq.OFF: (818) 734-7223CEL: (323) 304-5496NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
The post was migrated from Yahoo.
Pat:
If 7 filed first, the mtg co may grant mod during 7. After 7 discharge, debtor can 13 the arrears if no mod during 7. If rfs in 7, covert.Two fees if must file a second case,but often the mods don't go through if there is too much unsecured debt.
hard choice. I explain and make the debtor decide.
dennis
The post was migrated from Yahoo.
Aside from the protection from foreclosure if a ch 13 plan is approved, what
are the pros and cons for 7s or 13s in terms of obtaining a loan
modification? Client has hired someone to do loan mod work. They are
telling him that Ch 7 is better because the lenders like to see the
unsecureds discharged. Client would probably have 0% plan and notice of
default has been recorded, with late August for three month time frame. I
would assume that 7 is better when there is no notice of default recorded,
but here it would be far too risky.
Your thoughts and experience please.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
Aside
from the protection from foreclosure if a ch 13 plan is approved, what are the
pros and cons for 7s or 13s in terms of obtaining a loan modification? Client
has hired someone to do loan mod work. They are telling him that Ch 7 is
better because the lenders like to see the unsecureds discharged. Client
would probably have 0% plan and notice of default has been recorded, with late
August for three month time frame. I would assume that 7 is better when
there is no notice of default recorded, but here it would be far too
risky.
Your
thoughts and experience please.
If
you have any questions or concerns, please contact me.
Pat
Patrick
T. Green, Esq.
Fitzgerald
& Green
Attorneys
at Law
1010
E. Union Street
Suite
206
Pasadena,
CA 91106
Tel:
626-449-8433
Fax:
626-449-0565
The post was migrated from Yahoo.