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Debtor enteres Loan Mod Agreement after Confirmed Chapter 11 Plan - Paying according to Agreement - received NOD
Hi Dennis:
The plan came first and held the same monthly payments and then another separate monthly payment to cure the arrears over 60 months.
The loan mod just gave a monthly payment. Public Counsel handled the loan mod.
It appears from the timing of the documents that State Court to enforce the Loan Mod is the correct path.
Law Office of Catherine Christiansen
Certified Specialist, Bankruptcy Law, The State Bar of California Board of Legal Specialization.
On Friday, August 29, 2014 7:16 PM, "cdcbaa cdcbaamailbox@gmail.com [cdcbaa]" wrote:
Christine:
You don't tell us the terms of the plan, so we cannot opine, except to guess.
Did the plan just parrot the loan mod?
dennis
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
On Aug 29, 2014, at 12:07 PM, "Catherine Christiansen christiansenlaw@yahoo.com [cdcbaa]" wrote:
>Need advice:
>
>
>Plan confirmed just last year (11/2013). Debtor enters Loan Modification Agreement on residence 1/2014. Debtor has proof paying according to Loan Mod. Case administratively closed earlier this year. Lender's servicer SPS moved file from bankruptcy to loss mitigation - began calling and filing NOD.
>
>
>Does the Loan Modification trump the confirmed plan?
>
>Debtor had a long hard battle with Chase to save their home, since 2009,
during the chapter 11 Chase the "lender" refused to accept monthly payments which created a default, then during the Chapter 11 US Bank raised its hand to claim it is the "actual lender" - yeah whatever. Stipulation entered for plan treatment of debt. Debtor actually already had a loan modification in place before the Chapter 11, so during the Chapter 11 Debtor was told that the loan could not be modified because it already was. I administratively closed the case for the 5 year period of payments to the unsecured creditors and to save the Debtor the quarterly trustee fees. Debtor has called and spoken with SPS representatives who apologize, tell the debtor that the NOD's are not correct, etc. , yet issue another NOD and continue calling.
>
>I just sent QWR.
>
>So . . . is this a state court matter? Because the Debtor is paying according to post confirmation loan mod
not the confirmed plan.
>Or . . . Reopen BK case for approval of Loan Mod and/or modify plan? Then go after lender for violation of Loan Mod/modified plan?
>
>It just seems like there is a nasty can of serpents no matter which way.
>
>Thanks for your ideas in advance.
>
>
>
>
>Law Office of Catherine Christiansen
>Certified Specialist, Bankruptcy Law, The State Bar of California Board of Legal Specialization.
>
>
>
The post was migrated from Yahoo.
Christine:
You don't tell us the terms of the plan, so we cannot opine, except to guess.
Did the plan just parrot the loan mod?
dennis
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Aug 29, 2014, at 12:07 PM, "Catherine Christiansen christiansenlaw@yahoo.com [cdcbaa]" wrote:
>
> Need advice:
>
> Plan confirmed just last year (11/2013). Debtor enters Loan Modification Agreement on residence 1/2014. Debtor has proof paying according to Loan Mod. Case administratively closed earlier this year. Lender's servicer SPS moved file from bankruptcy to loss mitigation - began calling and filing NOD.
>
> Does the Loan Modification trump the confirmed plan?
>
> Debtor had a long hard battle with Chase to save their home, since 2009, during the chapter 11 Chase the "lender" refused to accept monthly payments which created a default, then during the Chapter 11 US Bank raised its hand to claim it is the "actual lender" - yeah whatever. Stipulation entered for plan treatment of debt. Debtor actually already had a loan modification in place before the Chapter 11, so during the Chapter 11 Debtor was told that the loan could not be modified because it already was. I administratively closed the case for the 5 year period of payments to the unsecured creditors and to save the Debtor the quarterly trustee fees. Debtor has called and spoken with SPS representatives who apologize, tell the debtor that the NOD's are not correct, etc. , yet issue another NOD and continue calling.
>
> I just sent QWR.
>
> So . . . is this a state court matter? Because the Debtor is paying according to post confirmation loan mod not the confirmed plan.
> Or . . . Reopen BK case for approval of Loan Mod and/or modify plan? Then go after lender for violation of Loan Mod/modified plan?
>
> It just seems like there is a nasty can of serpents no matter which way.
>
> Thanks for your ideas in advance.
>
>
> Law Office of Catherine Christiansen
> Certified Specialist, Bankruptcy Law, The State Bar of California Board of Legal Specialization.
>
>
>
The post was migrated from Yahoo.
Need advice:
Plan confirmed just last year (11/2013). Debtor enters Loan Modification Agreement on residence 1/2014. Debtor has proof paying according to Loan Mod. Case administratively closed earlier this year. Lender's servicer SPS moved file from bankruptcy to loss mitigation - began calling and filing NOD.
Does the Loan Modification trump the confirmed plan?
Debtor had a long hard battle with Chase to save their home, since 2009, during the chapter 11 Chase the "lender" refused to accept monthly payments which created a default, then during the Chapter 11 US Bank raised its hand to claim it is the "actual lender" - yeah whatever. Stipulation entered for plan treatment of debt. Debtor actually already had a loan modification in place before the Chapter 11, so during the Chapter 11 Debtor was told that the loan could not be modified because it already was. I administratively closed the case for the 5 year period of payments to the unsecured creditors and to save the Debtor the quarterly trustee fees. Debtor has called and spoken with SPS representatives who apologize, tell the debtor that the NOD's are not correct, etc. , yet issue another NOD and continue calling.
I just sent QWR.
So . . . is this a state court matter? Because the Debtor is paying according to post confirmation loan mod not the confirmed plan.
Or . . . Reopen BK case for approval of Loan Mod and/or modify plan? Then go after lender for violation of Loan Mod/modified plan?
It just seems like there is a nasty can of serpents no matter which way.
Thanks for your ideas in advance.
Law Office of Catherine Christiansen
Certified Specialist, Bankruptcy Law, The State Bar of California Board of Legal Specialization.
The post was migrated from Yahoo.