What happens to avoided 2TD loan if ch 13 gets dismissed
Posted: Fri May 06, 2016 5:53 pm
Share the confirmation order, Nancy. I haven't had one like that entered
on one of my clients.
On Fri, May 6, 2016 at 1:24 PM, korompisn@yahoo.com [cdcbaa] wrote:
>
>
> Dear Listmates,
>
>
> What happens to the junior mortgage loan whose lien was avoided in ch 13,
> if debtor's case gets dismissed without a discharge? Does it usually get
> reinstated for the remaining balance at the initial rate, or does creditor
> accelerate the loan?
>
>
> Debtor had paid over 30% of the junior mortgage loan through the plan,
> along with other unsecureds, but now risks getting case dismissed.
>
>
> As background, Trustee filed TMD just now which is months before end of
> plan, requiring debtor to pay another 190k (most 2TD), which debtor does
> not have, to pay 100% of plan, up from 30%. Tee cited line in the Order
> stating that all income above a certain amount should have been pledged to
> the plan. Debtor had submitted all his tax returns for last 5 years, but
> trustee is only asking for this now.
>
>
> Thank you.
>
>
> Nancy Korompis
>
> Tel: 626-716-7763
>
>
>
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
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Share the confirmation order, Nancy. I haven't had one like that entered on one of my clients.On Fri, May 6, 2016 at 1:24 PM, korompisn@yahoo.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
Dear Listmates,What happens to the junior mortgage loan whose lien was avoided in ch 13, if debtor's case gets dismissed without a discharge? Does it usually get reinstated for the remaining balance at the initial rate, or does creditor accelerate the loan?Debtor had paid over 30% of the junior mortgage loan through the plan, along with other unsecureds, but now risks getting case dismissed.
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