Thanks group for the responses.
Mark C. Kim
>
> I have to concur with Dennis. What evidence of
> value did you provide to the court? Is his home
> worth exactly $335,000 and the amount owed on the
> mortgage and all other liens and encumbrances
> (senior to the judgment lien) as of the petition
> date exactly $285,000? I somehow doubt it. You
> need one cent of impairment to qualify and the
> numbers you provided show zero. I would need more
> specifics, as Dennis mentioned, to advise further.
>
> ***********************************************
> Mark J. Markus
> Law Office of Mark J. Markus
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> ----- Original Message -----
> To:
cdcbaa@yahoogroups.com
> Sent: Thursday, August 05, 2004 7:03 AM
> Subject: [cdcbaa] Re: motion to avoid lien
>
>
> --- In
cdcbaa@yahoogroups.com, "markkimlaw"
> wrote:
> > The debtor's house is valued at
> > approx. $335,000 and his mortgage is $285,000.
> We took the 703
> > homestead exemption in the amount of $50,000.
> Judge Carroll
> denied
> > the Motion stating that the lien in question
> does not impair an
> > exemption. This is my first Motion to Avoid
> Lien. Can someone
> tell
> > me why Judge Carroll denied my Motion. Also,
> any suggestions on
> how
> > I can get the lien avoided?
> >
> > Sincerely,
> >
> > Mark C. Kim
>
> Two problems:
> 335 - 285 is 50. (would work)
> approx 335, might be 340, 340 - 285 is 55, 55 - 4
> is 51 (won't work)
> 704 is the exmeption for 50 k, if you took 703,
> the only exmept is
> 19k
>
> There are enough cases which say any extra equity
> and the lien does
> not impair the exemption to make EC correct. The
> motion has to be
> structured so there is no question about the
> impairment.
>
> Can't tell from what you wrote what to fix, these
> are suggestions,
> but now if you move again, you must explain the
> differences in the
> motions, so it will be harder. You need very
> specific testimony re
> value if the numbers are as close as you the math
> above shows.
>
> Usually with this small of a lien, I offer the fee
> I would charge
> for the motion to the creditor, in settlement,
> before making the
> motion. It is likely the creditor, who doesn't
> know EC, will take
> the offer, or counter with a reasonable number,
> not wanting the lien
> avoided. After losing the motion, still make an
> offer, the creditor
> may not understand refiling may be more difficult.
>
> dennis
>
>
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