Central District Consumer Bankruptcy Attorney's Association

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If you have a client willing to be aggressive, I don't think it is
sanctionable to try a strip down. You may not win, but .....
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Dennis
Sent: Tuesday, October 26, 2010 9:09 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] principal residence for LAM purposes
Golly, isn't a lam motion a strip down? We would like the bankruptcy
statute to follow the state statute, and consider a property with more than
4 units not a residence, but the Bk statute only tests if the debtor lives
on the property.
I have previously suggested using the language of the deed of trust against
the creditor, as most td's are not residential for over 4 units, but some
judges won't see the difference.
Sent from my iPhone
On Oct 15, 2010, at 10:00 AM, "Mark J. Markus" wrote:
If a debtor owns a four-plex and lives in one of the units which is his
principal residence, am I correct that the loans against the entire building
are treated as if the entire building is debtor's principal residence (i.e.
no cramdown of the 1st mortgage or junior mortgage unless wholly unsecured
per LAM)? I can't think of any other logical way to partition the units for
cramdown purposes, but someone asked me the question...
*************************
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.

Golly, isn't a lam motion a strip down? We would like the bankruptcy statute to follow the state statute, and consider a property with more than 4 units not a residence, but the Bk statute only tests if the debtor lives on the property.
I have previously suggested using the language of the deed of trust against the creditor, as most td's are not residential for over 4 units, but some judges won't see the difference.
Sent from my iPhone
On Oct 15, 2010, at 10:00 AM, "Mark J. Markus" wrote:
If a debtor owns a four-plex and lives in one of the units which is his principal residence, am I correct that the loans against the entire building are treated as if the entire building is debtor's principal residence (i.e. no cramdown of the 1st mortgage or junior mortgage unless wholly unsecured per LAM)? I can't think of any other logical way to partition the units for cramdown purposes, but someone asked me the question...
*************************
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.

If a debtor owns a four-plex and lives in one of the units which
is his principal residence, am I correct that the loans against the
entire building are treated as if the entire building is debtor's
principal residence (i.e. no cramdown of the 1st mortgage or junior
mortgage unless wholly unsecured per LAM)? I can't think of any
other logical way to partition the units for cramdown purposes, but
someone asked me the question...
*************************
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.