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Waiting for positive equity after 1111(b) election
yes
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Sent from yes land
On Jun 11, 2013, at 5:36 PM, Alik Segal wrote:
> The secured creditor made the 1111(b) election. Per statute the secured claim is equal to current loan principal which is about double the property fair market value. Let's assume that FMV is $100K and Principal is $200K.
>
>
> It may take 10 years for the property to double in value. Does this mean that the debtor will have no equity in this property for many years to come--until the property doubles in value?
>
>
> --
> Alik Segal
> Alik.Segal@gmail.com
> 310-362-6157
> California Central District
>
The post was migrated from Yahoo.
Giovanni,
You mentioned 4% interest rate. Are you getting this rate from banks in
negotiated stipulations? Have you had to present evidence that this is
fair market rate? If so, could you share the case name or case
number where you presented this argument?
On Tue, Jun 11, 2013 at 5:36 PM, Alik Segal wrote:
> The secured creditor made the 1111(b) election. Per statute the secured
> claim is equal to current loan principal which is about double the property
> fair market value. Let's assume that FMV is $100K and Principal is $200K.
>
>
> It may take 10 years for the property to double in value. Does this mean
> that the debtor will have no equity in this property for many years to
> come--until the property doubles in value?
>
>
> --
> Alik Segal
> Alik.Segal@gmail.com
> 310-362-6157
> California Central District
>
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Giovanni, You mentioned 4% interest rate. Are you getting this rate from banks in negotiated stipulations? Have you had to present evidence that this is fair market rate? If so, could you share the case name or case numberwhere you presented this argument?
On Tue, Jun 11, 2013 at 5:36 PM, Alik Segal <listserv.inbox@gmail.com> wrote:
The secured creditor made the 1111(b) election. Per statute the secured claim is equal to current loan principal which is about double the property fair market value. Let's assume that FMV is $100K and Principal is $200K.
It may take 10 years for the property to double in value. Does this mean that the debtor will have no equity in this property for many years to come--until the property doubles in value?
-- Alik SegalAlik.Segal@gmail.com
310-362-6157California Central District
-- Alik Segal
The post was migrated from Yahoo.
The secured creditor made the 1111(b) election. Per statute the secured
claim is equal to current loan principal which is about double the property
fair market value. Let's assume that FMV is $100K and Principal is $200K.
It may take 10 years for the property to double in value. Does this mean
that the debtor will have no equity in this property for many years to
come--until the property doubles in value?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
The secured creditor made the 1111(b) election. Per statute the secured claim is equal to current loan principal which is about double the property fair market value. Let's assume that FMV is $100K and Principal is $200K.
It may take 10 years for the property to double in value. Does this mean that the debtor will have no equity in this property for many years to come--until the property doubles in value?
-- Alik SegalAlik.Segal@gmail.com
310-362-6157California Central District
The post was migrated from Yahoo.