Recording within BK
Posted: Tue Dec 13, 2011 11:37 am
The debt is already incurred. It is the same trust deed securing the debt. I don't recall the statute or case that provides for the recapitalized portion of the debt to be the junior most secured obligation on the property. I do recall discuss this with Lou Esbin, perhaps he will share that informaiton if he remembers.
Peter M. Lively, JD, MBA
The Personal Financial Law Center
A-Bankruptcy-Attorney.com
Culver City (310) 391-2400
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To: cdcbaa@yahoogroups.com
Sent: Tuesday, December 13, 2011 11:32 AM
Subject: Re: [cdcbaa] Recording within BK
Ok. So if this is true...And I have not seen it in prior cases, then would the appropriate motion to approve these modifications actually be:
1) Motion to Incur Debt
2) Motion to Refinance
If there is a new recording for each and every recap, then this effectively requires the refinance motion rather than the current motions being provided.
Am I over analyzing this?
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