Central District Consumer Bankruptcy Attorney's Association

Creditors who plan to file an adversary don't always attend the 341 meeting. If the creditor is filing a lot of the same kind of adversary they often are paid a set fee for each one and they may believe that going to the chapter 7-- 341(a) is a big waste of time.
Margaret Norman

The post was migrated from Yahoo.

I have a client that relied on a mortgage broker for a HELOC loan. We filed a business debt bankruptcy because the intention was to renovate the property and sell it.The property was not in California.He did not mislead the mortgage broker, buthe didn't realizethe significance ofUnfortunately, the creditor made enough complaints to OUST to triggeran audit. The OUST strongly urged me to apply amend my petition and apply the means test because the loan was for a primary residence.The audit really scared me and my client, but now I feel that the OUST was protecting my client because of recent increases inmortgage fraud adversaries. My 341 meeting was this Wednesday. The creditor did not send an attorney.The creditor is Cadle Grassy Meadows.
Sina
I have a client that relied on a mortgage broker for a HELOC loan. We filed a business debt bankruptcy because the intention was to renovate the property and sell it. The property was not in California. He did not mislead the mortgage broker, but he didn't realize the significance of The Statement of Occupancy.

Unfortunately, the creditor made enough complaints to OUST to trigger an audit. The OUST strongly urged me to apply amend my petition and apply the means test because the loan was for a primary residence. The audit really scared me and my client, but now I feel that the OUST was protecting my client because of recent increases in mortgage fraud adversaries. My 341 meeting was this Wednesday. The creditor did not send an attorney. Is this a good sign that an adversary will not follow?

The creditor is Cadle Grassy Meadows.

Sina

The post was migrated from Yahoo.