"Other" language for real property Ch. 13s
Posted: Thu Jan 31, 2008 1:21 pm
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I included it as an attachment. Here it is
1. Confirmation of this plan shall impose a duty on any creditor
and/or servicer, that files a claim secured by liens on real property,
to notify in writing the Trustee, the Debtor(s), and the attorney for
the Debtor(s), of any changes in the interest rate for an adjustable
rate mortgage, the effective date of the adjustment; and/or any change
in the taxes and insurance that would either increase or reduce the
escrow portion of the monthly mortgage payment. No change or adjustment
in the monthly mortgage payments shall be effective until proper notice
is given as provided for herein.
2. Creditor and/or its servicer shall apply the direct mortgage
payments paid by the debtor to the month in which they were made,
whether or not such payments are immediately applied to the loan or
placed into some type of suspense account. The payments disbursed by
the trustee to the creditor and/or its servicer shall be applied and
credited to the amount necessary to cure the pre-petition default, which
shall be referred to as the "arrears" for the purposes of this plan.
The arrears shall be the amount specifically itemized in the creditor
and/or its servicer's proof of claim, provided the amounts are
authorized and properly assessed under the terms of the note and
mortgage, unless the debtors at any time dispute that amount, in which
case the arrears will be the amount ultimately decided by the Court or
agreed to by the parties. In order for a creditor and/or its servicer
to charge the debtor's loan for post-petition costs or services it shall
first provide notice to the debtor, the debtor's attorney and the
Trustee of such fees. If no such notice is provided, the creditor
and/or its servicer shall be prohibited from assessing said fees to the
loan both during and after the pendency of this case. No payments
received during this case by creditor and/or its servicer from the
Debtor(s), or the Trustee, shall be applied and credited except as
directed and required by this plan.
3. Upon completion of the payment of the arrears, the Debtor(s)'
mortgage account shall be deemed current as to the pre-petition default
and will be reinstated on the original payment schedule under the note
and mortgage as if no pre-petition default had ever occurred.
4. Debtor(s) retain and reserve for themselves, the estate, and
the Chapter 13 Trustee, any and all pre-petition and post-petition
claims that they could or might assert against any party or entity
arising under any state or federal law and nothing in this Plan, or in
the Schedules, shall be deemed a waiver of any such claims or causes of
action.
5. Confirmation of this plan does not bar a party in interest
from objecting to any proof of claim that is not filed in strict
compliance with Federal Bankruptcy Rules 3001 or 3002. Furthermore, to
the extent a filed proof of claim is inconsistent with this Plan, or
with any of the Schedules or Statements filed in this case, the
Debtor(s) reserve the right to object and to pursue all legal claims
related to, or arising out of, the transactions giving rise to said
claim(s).
Erik Clark
Borowitz, Lozano & Clark, LLP
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791
Office: (626) 332-8600
Fax: (626) 332-8644
eclark@BLClaw.com
www.BLClaw.com
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