.jpg)
Loan Mods and Short Sales I seem to be running in=
I think there is a distinction between asking the court to approve the loan
mod (they won't do it), vs. asking the court to authorize the debtor to
enter into the loan mod (they might do it). We have a local form for
getting an Order confirming that loan mod discussions do not violate the
stay. However, some lenders want more than that--some are requesting an
order authorizing the debtor to enter into the loan mod. One option is to
see if the creditor will file the motion (I had this happen in an OC case
and the Judge approved it, after setting a hearing on the matter). Or you
can prepare a "Motion for Authorization to Enter into Loan Modification
Agreement" and attach a declaration of the debtor attesting to the
creditor's requirements. I did this in a VZ case--contact me off list if
you want a copy.
Clifford Bordeaux
Bordeaux Law, P.C.
3731 Wilshire Boulevard, Suite 600
Los Angeles, CA 90010
T: 323-762-5529
T: 626-405-2345
F: 626-628-1820
E: cliff@bordeauxlaw.com
On Tue, Mar 25, 2014 at 4:04 PM, Havkin Stella wrote:
>
>
> While I people have posted that they received approvals of loan
> modifications, I filed three motions before three different judges and all
> were denied based on the fact that the court has no jurisdiction to approve
> a loan modification. I have also been verbally told by several judges that
> they will not approve loan modifications.
>
> -----Original Message-----
> Sent: Mar 25, 2014 4:02 PM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Loan Mods and Short Sales
>
> I seem to be running into a few of these lately. Where I am from, the
> Judges will not approve Short Sales without a really, really good reason.
> Is it the same here? Does anyone know if there is any problem getting a
> short sale approved in front of Judge Zurzolo? Same issue with loan mods.
> I've been told from some locals that the Judges will typically issue the
> Order that loan mod discussions do not violate the stay, but are not
> inclined to approve an actual loan mod. (for what it's worth, I don't see a
> requirement to get approval on a mod - it is not new financing). In any
> event, I have a creditor in a Judge Klein 13 who has given us a very
> favorable mod and they want court approval. Can I expect any difficulty in
> obtaining that approval? I appreciate the input!
>
>
>
I think there is a distinction between asking the court to approve the loan mod (they won't do it), vs. asking the court to authorize the debtor to enter into the loan mod (they might do it). We have a local form for getting an Order confirming that loan mod discussions do not violate the stay. However, some lenders want more than that--some are requesting an order authorizing the debtor to enter into the loan mod. One option is to see if the creditor will file the motion (I had this happen in an OC case and the Judge approved it, after setting a hearing on the matter). Or you can prepare a "Motion for Authorization to Enter into Loan Modification Agreement" and attach a declaration of the debtor attesting to the creditor's requirements. I did this in a VZ case--contact me off list if you want a copy.
Clifford BordeauxBordeaux Law, P.C.3731 Wilshire Boulevard, Suite 600Los Angeles, CA 90010T: 323-762-5529T: 626-405-2345
F: 626-628-1820 E: cliff@bordeauxlaw.com
On Tue, Mar 25, 2014 at 4:04 PM, Havkin Stella <havkinlaw@earthlink.net> wrote:
While I people have posted that they received approvals of loan modifications, I filed three motions before three different judges and all were denied based on the fact that the court has no jurisdiction to approve a loan modification. I have also been verbally told by several judges that they will not approve loan modifications.
-----Original Message--outhbaybk.com Sent: Mar 25, 2014 4:02 PM To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Loan Mods and Short Sales I seem to be running into a few of these lately. Where I am from, the Judges will not approve Short Sales without a really, really good reason. Is it the same here? Does anyone know if there is any problem getting a short sale approved in front of Judge Zurzolo? Same issue with loan mods. I've been told from some locals that the Judges will typically issue the Order that loan mod discussions do not violate the stay, but are not inclined to approve an actual loan mo
The post was migrated from Yahoo.