.jpg)
Loan Modification Agreement - Interpretation of Bankruptcy Language
Greetings:
PC has Feb 09 Loan Modification Agreement with Wamu:
Letter attached to Loan mod states "By signing the Agreement you acknowledge
that if you file a petition in bankruptcy, Washington Mutual, the Trust, or
anyone action on their behalf may elect to take any and all actions
necessary, including, but not limited to voiding the Agreement, filing a
Motion for relief from the automatic stay, a Motion to dismiss or any
permitted state law remedies which, in Washington Mutual's judgment, are
reasonably necessary to secure or protect the property and/or to enforce the
rights under the original terms of your loan."
The Agreement does not have any sort of language like this. The agreement
does not have an integration clause.
PC wants to file 13 to eliminate 2nd. Need your thoughts interpreting
language. Want to see if I have the right sense of things.
I have heard of nightmares flowing from a bankruptcy filing with similar
language. However, My interpretation of this language is that they are
stating that which is their legal right to do, however this cannot be
construed as a stipulation to allow the court to grant such motions for
relief, etc.
Anyone have different experience? Thank you for your comments or
suggestions.
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (323) 304-5496
NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice
for ex parte Applications via voicemail or by email. You must comply with
California Law and give notice to a person in my office during regular
business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and
confidential information and is intended only for the individual named. If
you are not the intended recipient you should not disseminate, distribute,
store, print, copy or deliver this message. Please notify the sender
immediately by e-mail if you have received this e-mail by mistake and delete
this e-mail from your system.
Greetings:PC has Feb 09 Loan Modification Agreement with Wamu:Letter attached to Loan mod states "By signing the Agreement you acknowledge that if you file a petition in bankruptcy, Washington Mutual, the Trust, or anyone action on their behalf may elect to take any and all actions necessary, including, but not limited to voiding the Agreement, filing a Motion for relief from the automatic stay, a Motion to dismiss or any permitted state law remedies which, in Washington Mutual's judgment, are reasonably necessary to secure or protect the property and/or to enforce the rights under the original terms of your loan."
The Agreement does not have any sort of language like this. The agreement does not have an integration clause. PC wants to file 13 to eliminate 2nd. Need your thoughts interpreting language. Want to see if I have the right sense of things.
I have heard of nightmares flowing from a bankruptcy filing with similar language. However, My interpretation of this language is that they are stating that which is their legal right to do, however this cannot be construed as a stipulation to allow the court to grant such motions for relief, etc.
Anyone have different experience? Thank you for your comments or suggestions.-- R. Grace Rodriguez, Esq.OFF: (818) 734-7223CEL: (323) 304-5496NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
The post was migrated from Yahoo.