Confirmed 13, now mortgage payments increased!
Posted: Mon Jan 28, 2008 12:22 pm
I am sure those of you with more experience have come across this already, and I knew it would happened sooner or later.....now what do I do?
Ch 13 confirmed last week and now GMAC, first mortgage lender, sends notice of mortgage payment increase of about $500, which client cannot afford.
Client decided enough is enough and wants to walk away from the house. She qualifies for a 7. The only reason she was able to do a 13 was relying on adult children's household income contribution. She could not have done it alone.
A. Do I file motion to convert now?
B. Do I file motion to dismiss and give client some time to look for alternate housing? Then file 7?
C. Wait as long as possible in the 13 without paying the mortgages or plan payment? (This doesn't sound right!)
Anything else I should consider? Thanks in advance.
Susana B. Tolchard, Esq.
LAW OFFICES OF SUSANA B. TOLCHARD & ASSOCIATES
23734 Valencia Blvd., Suite 304
Valencia, CA 91355
Telephone: (661) 287-9986
Facsimile: (661) 287-9662
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I am sure those of you with more experience have come across this already, and I knew it would happened sooner or later.....now what do I do? Ch 13 confirmed last week and now GMAC, first mortgage lender, sends notice of mortgage payment increase of about $500, which client cannot afford. Client decided enough is enough and wants to walk away from the house. She qualifies for a 7. The only reason she was able to do a 13 was relying on adult children's household income contribution. She could not have done it alone. A. Do I file motion to convert now? B. Do I file motion to dismiss and give client some time to look for alternate housing? Then file 7? C. Wait as long as possible in the 13 without paying the mortgages or plan payment? (This doesn't sound right!) Anything else I should consider? Thanks in
advance. Susana B. Tolchard, Esq.LAW OFFICES OF SUSANA B. TOLCHARD & ASSOCIATES23734 Valencia Blvd., Suite 304Valencia, CA 91355Telephone: (661) 287-9986Facsimile: (661) 287-9662
Be a better friend, newshound, and
know-it-all with Yahoo! Mobile. Try it now.
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