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CR's post petition payable through Plan? and 506b question
I am bumping this post to the top because there are not any replies. I
just received one of these notices of postpetition mortgage fees, etc. and
would like to know the answers to Nikki's questions as well, if anyone
knows. Thanks.
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
On Tue, Jun 19, 2012 at 3:45 PM, Nikki wrote:
> **
>
>
> Hi everyone,
>
> 1. When a mortgage creditor files a claim for post-petition atty's fees
> using the new Form B 10S2 Supplement to POC "Notice of Postpetition
> Mortgage Fees...", isn't this a request by the creditor to be paid the
> additional fees THROUGH THE PLAN? Or is it merely to give notice of the
> fees being added to the end of the loan?
>
> 2. Per 506(b) and In re Salazar (9th Circ), in order for CR to recover
> postpetition atty's fees, 4 elements must be met, one of which is that the
> property is "oversecured". What if the creditor is "partially secured"?
> i.e. Mortgage loan is $500k and property value is $450k? That does not
> affect the applicability of 506(b), does it?
>
> Am I missing something?
>
> Thanks,
> Nikki
>
>
>
I am bumping this post to the top because there are not any replies. I just received one of these notices of postpetition mortgage fees, etc.and would like to know the answers to Nikki's questions as well, if anyone knows. Thanks.
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
On Tue, Jun 19, 2012 at 3:45 PM, Nikki <hashemiesq@yahoo.com> wrote:
Hi everyone,
1. When a mortgage creditor files a claim for post-petition atty's fees using the new Form B 10S2 Supplement to POC "Notice of Postpetition Mortgage Fees...", isn't this a request by the creditor to be paid the additional fees THROUGH THE PLAN? Or is it merely to give notice of the fees being added to the end of the loan?
2. Per 506(b) and In re Salazar (9th Circ), in order for CR to recover postpetition atty's fees, 4 elements must be met, one of which is that the property is "oversecured". What if the creditor is "partially secured"? i.e. Mortgage loan is $500k and property value is $450k? That does not affect the applicability of 506(b), does it?
Am I missing something?
Thanks,
Nikki
The post was migrated from Yahoo.
Hi everyone,
1. When a mortgage creditor files a claim for post-petition atty's fees using the new Form B 10S2 Supplement to POC "Notice of Postpetition Mortgage Fees...", isn't this a request by the creditor to be paid the additional fees THROUGH THE PLAN? Or is it merely to give notice of the fees being added to the end of the loan?
2. Per 506(b) and In re Salazar (9th Circ), in order for CR to recover postpetition atty's fees, 4 elements must be met, one of which is that the property is "oversecured". What if the creditor is "partially secured"? i.e. Mortgage loan is $500k and property value is $450k? That does not affect the applicability of 506(b), does it?
Am I missing something?
Thanks,
Nikki
The post was migrated from Yahoo.