Debtor wants to modify the mortgage on the house where he moved in postpetition
Posted: Tue Jul 24, 2012 1:02 pm
Listmates:
Debtor (chapter 11) has several houses: A, B, C, D, E, F. At filing, he
resided in A. After filing he moved in to B. Debtor really wants to stay
in B and wants to cram down (modify) the first mortgage encumbering B.
Per 9th Cir BAP residence at the time of filing the petition determines the
ability to modify a mortgage. *In re Abdelgadir, 455 B.R. 896, 900-03 (9th
Cir. BAP 2011); **In re Benafel, 461 B.R. 581 (9th Cir. BAP 2011)* .
It appears, Debtor that debtor will be able to modify the mortgage on the
house which as become his permanent residence after filing. This seems to
contravene the spirit of section *1322*(b)(2). However, it follows the
letter of that section.
Am I missing something?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Listmates: Debtor (chapter 11) has several houses: A, B, C, D, E, F. At filing, he resided in A. After filing he moved in to B. Debtor really wants to stay in B and wants to cram down (modify) the first mortgage encumbering B.
Per 9th Cir BAP residence at the time of filing the petition determines the ability to modify a mortgage. In
re Abdelgadir, 455 B.R. 896, 900-03 (9th Cir. BAP 2011);In
re Benafel, 461 B.R. 581 (9th Cir. BAP 2011).It appears, Debtor that debtor will be able to modify the mortgage on the house which as become his permanent residence after filing. This seems to contravene the spirit of section1322(b)(2). However, it follows the letter of that section.
Am I missing something?-- Alik SegalAlik.Segal@gmail.com310-362-6157California Central District
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