.jpg)
Problem with Priority of Liens in Chapter 13 506 Motion
Steve: is this one of those cases where the 2nd had no balance owing at
the time they acquired a refinancing of the 1st mortgage? I had a case
that did the valuation and it was granted but no one opposed it. I was
going to try to argue that the lien had no funds attached and that the lien
didn't become activated until AFTER the 1st was issued. The loan documents
on the new "1st" should have something in it from Escrow confirming no
balance owed at the time of refinancing. Let me know what you find out?
Renay
On Wed, Apr 18, 2012 at 2:10 PM, Steven B. Lever wrote:
> **
>
>
> I cannot believe it, but what was a routine 506 valuation just hit a road
> block.****
>
> ** **
>
> When the Debtors refinanced the 1st mortgage in 2006, the $60,000 HELOC
> I wanted to strip off never subordinated to the 1st mortgage. So the
> $60K HELOC is in 1st position. Now I know why the judges want us to
> research priority.****
>
> ** **
>
> We chose Chapter 13 just to do this lien strip, and I dont want to get
> into priority litigation and force the subordination.****
>
> ** **
>
> Anyone ever run across this before? Or even if you didnt, do you have
> any good ideas about what to do?****
>
> ** **
>
> Steve ****
>
> ** **
>
> Law Offices of Steven B. Lever****
>
> >** **
>
> > Steven B. Lever****
>
> >( Tel. (562) 436-5456 ext. 6470****
>
> >( Fax (800) 360-5161****
>
> >* sblever@leverlaw.com****
>
> > www.leverlaw.com****
>
> > ********************
>
>
>
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922
NO 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.
Steve: is this one of those cases where the 2nd had no balance owing at the time they acquired a refinancing of the 1st mortgage? I had a case that did the valuation and it was granted but no one opposed it. I was going to try to argue that the lien had no funds attached and that the lien didn't become activated until AFTER the 1st was issued. The loan documents on the new "1st" should have something in it from Escrow confirming no balance owed at the time of refinancing. Let me know what you find out?
RenayOn Wed, Apr 18, 2012 at 2:10 PM, Steven B. Lever <sblever@leverlaw.com> wrote:
I cannot believe it, but what was a routine 506 valuation just hit a road block.
We chose Chapter 13 just to do this lien strip, and I dont want to get into priority litigation and force the subordination.
Steve
The post was migrated from Yahoo.