Central District Consumer Bankruptcy Attorney's Association

If he's eligible for a reverse mortgage, he should be able to get an
approval very quickly and that would provide you some leverage in getting
the plan approved.
On Fri, Sep 21, 2018, 12:22 PM Jim Selth jim@wsrlaw.net [cdcbaa] wrote:
>
>
> Colleagues:
>
>
>
> Since the adoption of the new Plan last December, has anyone confirmed a
> Chapter 13 Plan which provides for a balloon payment upon the sale or
> refinance of a property? I have an 81-year old PC with huge equity in his
> property facing foreclosure who cannot afford 60 monthly Plan payments to
> cure the arrears and pay the required 100% to IRS and unsecured creditors.
> The goal would be get him 6-12 months to either sell the property or obtain
> a reverse mortgage.
>
>
>
> Another option is to file a surplus Chapter 7 case and let the Trustee
> sell the property, but thats not as good an option.
>
>
>
> If anyone could direct me to a case number or have other comments, it
> would be appreciated.
>
>
>
> Jim
>
>
>
> James R. Selth
> Certified Bankruptcy Specialist*
> Weintraub & Selth, APC
> 11766 Wilshire Boulevard, Suite 1170
> Los Angeles, California 90025
>
>
> (310) 207-1494 Phone
> (310) 442-0660 Fax
> jim@wsrlaw.net
>
> www.wsbankruptcylaw.com
>
>
>
> [image: W&S_color]
>
>
>
> *Certified by State Bar of California as Certified Legal Specialist in
> Bankruptcy Law
>
> Commissioner, Bankruptcy Law Advisory Commission, State Bar of California.
>
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>
>
>
>
If he's eligible for a reverse mortgage, he should be able to get an approval very quickly and that would provide you some leverage in getting the plan approved.On Fri, Sep 21, 2018, 12:22 PM Jim Selth jim@wsrlaw.net [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
The post was migrated from Yahoo.

Yes I have. My case confirmed yesterday. 2:18-bk-17057-NB

The post was migrated from Yahoo.

Colleagues:
Since the adoption of the new Plan last December, has anyone confirmed a Chapter 13 Plan which provides for a balloon payment upon the sale or refinance of a property? I have an 81-year old PC with huge equity in his property facing foreclosure who cannot afford 60 monthly Plan payments to cure the arrears and pay the required 100% to IRS and unsecured creditors. The goal would be get him 6-12 months to either sell the property or obtain a reverse mortgage.
Another option is to file a surplus Chapter 7 case and let the Trustee sell the property, but that's not as good an option.
If anyone could direct me to a case number or have other comments, it would be appreciated.
Jim
James R. Selth
Certified Bankruptcy Specialist*
Weintraub & Selth, APC
11766 Wilshire Boulevard, Suite 1170
Los Angeles, California 90025
(310) 207-1494 Phone
(310) 442-0660 Fax
jim@wsrlaw.net
www.wsbankruptcylaw.com
[W&S_color]
*Certified by State Bar of California as Certified Legal Specialist in Bankruptcy Law
Commissioner, Bankruptcy Law Advisory Commission, State Bar of California.
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.

The post was migrated from Yahoo.