Central District Consumer Bankruptcy Attorney's Association

Except in Judge Zurzolo's court where the lienstrip should only be
done at the end of the case apparently....
On 4/15/2011 3:43 PM, Giovanni Orantes wrote:
>
>
> Still should do the lienstrip or the junior will just file a POC
> with accrued interest etc.
>
>
> --
> Giovanni Orantes, Esq.
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 1980
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com
>
> WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
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> BERNARDINO AND SANTA BARBARA.
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The post was migrated from Yahoo.

Still should do the lienstrip or the junior will just file a POC with
accrued interest etc.
Giovanni Orantes, Esq.
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA.
Note: The information contained in this e-mail message is confidential
information intended only for the use of the individual or entity named. If
the reader of this message is not the intended recipient or an agent
responsible for delivering it to the intended recipient, you are hereby
notified that any dissemination, distribution or copy of this communication
is strictly prohibited. If you have received this communication in error,
please immediately notify us by telephone or e-mail and delete the original
e-mail at (213) 389-4362 or (888) 619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements imposed by
the Internal Revenue Service, we inform you that any U.S. tax advice
contained in this communication (including any attachments) is not intended
to be used, and cannot be used, for the purpose of (i) avoiding penalties
under the Internal Revenue Code or (ii) promoting, marketing, or
recommending to another party any transaction or matter addressed herein.
Still should do the lienstrip or the junior will just file a POC with accrued interest etc.-- Giovanni Orantes, Esq. Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 1980Los Angeles, CA 90010
Tel: (213) 389-4362Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.comWE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO AND SANTA BARBARA.Note: The information contained in this e-mail message is confidential information intended only for the use of the individual or entity named. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by telephone or e-mail and delete the original e-mail at (213) 389-4362 or (888) 619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

The post was migrated from Yahoo.

Thanks. Just like to hear confirmations---one of the hazards of
being a solo practitioner.
Now that I think about it, would it even be necessary to do the
lienstrip at the end of the case? One the 506 valuation is done and
all payments are made under the plan (paying off 100% of the junior
mortgage) there would be nothing owed and no need to strip the lien,
right?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at

The post was migrated from Yahoo.

The formular to determine the PDI takes into account applicationof 506 where it
isapplicable, so on your facts there isability to pay and savings of the total
interest left under the note less the adminfees/costs of prosecuting the 506
action and the chapter 13 fee added tothe unsecured note. Crunch the numbers.
Peter M. Lively, JD, MBA
The Personal Financial Law Center* Culver City & Costa Mesa * 800-307-DEBT
________________________________
To: cdcbaa@yahoogroups.com
Sent: Fri, April 15, 2011 1:29:31 PM
Subject: [cdcbaa] Lienstripping in 100% Ch. 13 case
If a debtor has sufficient alleged Projected Disposable Income to
pay 100% to unsecured creditors---even if a junior mortgage is
Lienstripped via LAM--does it still make sense to do the lienstrip
since the stripped off debt could then be paid off at zero percent
through the Plan (versus whatever the interest rate is on the
present lien)?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at

The post was migrated from Yahoo.

I think you answered your own question. I think it would be still be
worthwhile to do the 506 valuation to strip the second to save on interest
and other charges, real or made up.
Giovanni Orantes, Esq.
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
I think you answered your own question. I think it would be still be worthwhile to do the 506 valuation to strip the second to save on interest and other charges, real or made up.-- Giovanni Orantes, Esq.
Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 1980Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.com

The post was migrated from Yahoo.

If a debtor has sufficient alleged Projected Disposable Income to
pay 100% to unsecured creditors---even if a junior mortgage is
Lienstripped via LAM--does it still make sense to do the lienstrip
since the stripped off debt could then be paid off at zero percent
through the Plan (versus whatever the interest rate is on the
present lien)?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at

The post was migrated from Yahoo.