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Projected Escrow Shortage and Mortgage arrears
I'm reviewing a proof of claim filed in a Chapter 13 case which came
in almost $12,000 higher than a reinstatement figure provided by the
services prior to filing the case.
It seems a large portion of that amount is for a "projected escrow
shortage" which sounds so me like a made-up figure designed to
anticipate postpetition defaults by the debtor and should not be
part of a prepetition arrearage.
Can the more real estate savvy among our learned group explain what
this is and whether it is a legitimate arrearage amount in a proof
of claim?
*************************
Mark J. Markus
Law Office of Mark J. Markus
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Certified Bankruptcy Law Specialist--The State Bar of California
Board of Legal Specialization
This Firm is a Qualified Federal Debt Relief Agency
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