#1: Fully amortized loan payment only. Any pre-petition arrears of taxes
or insurance is included in the plan. If the creditor wants to pursue an
impound for future (post-petition) taxes and insurance then they must file a RFS.
In the context of a RFS motion, the creditor will have to explain the
impound and why the impound is at the amount they are requesting.
Keith HIgginbotham
In a message dated 3/4/2008 10:50:36 A.M. Pacific Standard Time,
mitnicklaw@aol.com writes:
Debtors' mortgage payments are fully-amortized. The lender, after inception
of the loan, added an impound for payment of property taxes. Lender cannot
(or will not) explain why the impound amount is twice the monthly amount of
property taxes.
The amount debtors are required to pay to lender each month post-petition,
pre-conf. is:
1. Fully amortized loan payment only ?
2. Fully amortized loan payment + property taxes/12 ?
3. Fully amortized loan payment + (apparently excessive) impound amount ?
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#1: Fully amortized loan payment only. Any pre-petition
arrears of taxes or insurance is included in the plan. If the creditor
wants to pursue an impound for future (post-petition) taxes and insurance then
they must file a RFS. In the context of a RFS motion, the creditor will
have to explain the impound and why the impound is at the amount they are
requesting.
Keith HIgginbotham
In a message dated 3/4/2008 10:50:36 A.M. Pacific Standard Time,
mitnicklaw@aol.com writes:
The post was migrated from Yahoo.