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Loan Mod Court Approval
John
363(b) and 363(c) cover obtaining credit outside of the ordinary course and in the ordinary course. What statute did you use?
If you did not make the case that a loan modification is outside of the ordinary course, you might try again and make that showing.
Of course, if your client is in a 7, the debtor is not the trustee and probably has no recourse to a court that reads the code (only trustee has the right to obtain credit for the estate) and won't give comfort orders.
dennis
The post was migrated from Yahoo.
I recently saw a post that HAMP guidelines did not permit Court approval of loan mods? Then, last week, Judge Ahart ruled against my motion to refi (loan mod approvel), stating a lack of authority for the Court to render such approval.
Anyone else had this come up, and if so, how do you handle it with the lender who wants the Court to approve the loan mod?
John Boyko
The post was migrated from Yahoo.