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Listing mortgage debt on Stmt of Intent
I have always listed it and said we would reaffirm. Never had anyone
actually send me a reaffirmation.
Michael R. Totaro J.D., L.LM.
Totaro & Shanahan
P.O. Box 789
Pacific Palisades, CA 90272
310 573 0276 (v) 310 496 1260 (f)
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Home.
The post was migrated from Yahoo.
I'm listing them since Section 521(a)(2) and the Statement of Intention form does not limit "debts which are secured by property of the estate" to debts secured by personal property, however not for Reaffirmation purposes, just "retain" or "surrender". This can become an issue if the US Trustee argues that the intent to surrender the real property means that the mortgage payments shouldn't be allowed in the means test, or as an expense in Schedule J.
James R. Selth
Weintraub & Selth, APC
12424 Wilshire Blvd., Suite 1120
Los Angeles, CA 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF
THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY
LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION,
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To:
Sent: 3/19/2008 3:40PM
Subject: [cdcbaa] Listing mortgage debt on Stmt of Intent
>> Just to re-visit this, how many of you ARE listing real property encumbrances on the
>> Statement of Intent and how many are not?
>>
>> It didn't used to be required, but the new form requires it. I believe Lou Esbin made a
>> strong argument AGAINST listing them, but just wondering if anyone's run into any
>> issues one way or the other yet.
>>
>> ______________________
>> Mark J. Markus
>> Law Office of Mark J. Markus
>> 11684 Ventura Blvd. PMB #403
>> Studio City, CA 91604-2652
>> (818)509-1173 (818)509-1460 (fax)
>> web: http://www.bklaw.com/
>> This Firm is a Qualified Federal Debt Relief Agency
>> ___________
>> NOTICE: This Electronic Message contains information from the law office of Mark J.
>> Markus that may be privileged. The information is intended for the use of the
>> addressee only. If you are not the addressee, note that any disclosure, copy,
>> distribution or use of the contents of this message is prohibited.
>> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by
>> the IRS, we inform you that any U.S. tax advice contained in this communication (or in
>> any attachment) is not intended or written to be used, and cannot be used, for the
>> purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting,
>> marketing or recommending to another party any transaction or matter addressed in
>> this communication (or in any attachment).
>>
I'm listing them since Section 521(a)(2) and the Statement of Intention form does not limit "debts which are secured by property of the estate" to debts secured by personal property, however not for Reaffirmation purposes, just "retain" or "surrender". This can become an issue if the US Trustee argues that the intent to surrender the real property means that the mortgage payments shouldn't be allowed in the means test, or as an expense in Schedule J.
James R. Selth
Weintraub & Selth, APC
12424 Wilshire Blvd., Suite 1120
Los Angeles, CA 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF
THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY
LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION,
DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY
US IMMEDIATELY OF THE ERROR BY RETURN E-MAIL AND PLEASE DELETE THIS
MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
--- Original Message---
To:
Sent: 3/19/2008 3:40PM
Subject: [cdcbaa] Listing mortgage debt on Stmt of Intent
>> Just to re-visit this, how many of you ARE listing real property encumbrances on the
>> Statement of Intent and how many are not?
>>
>> It didn't used to be required, but the new form requires it I believe Lou Esbin made a
>> strong argument AGAINST listing them, but just wondering if anyone's run into any
>> issues one way or the other yet.
>>
>> ______________________
>> Mark J. Markus
>> Law Office of Mark J. Markus
>> 11684 Ventura Blvd. PMB #403
>> Studio City, CA 91604-2652
>> (818)509-1173 (818)509-1460 (fax)
>> web: http://www.bklaw.com/
>> This Firm is a Qualified Federal Debt Relief Agency
>> ___________
>> NOTICE: This Electronic Message contains information from the law office of Mark J.
>> Markus that may be privileged. The information is intended for the use of the
>> addressee only. If you are not the addressee, note that any disclosure, copy,
>> distribution or use of the contents of this message is prohibited.
>> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by
>> the IRS, we inform you that any U.S. tax advice contained in this communication (or in
>> any attachment) is not intended or written to be used, and cannot be used, for the
>> purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting,
>> marketing or recommending to another party any transaction or matter addressed in
>> this communication (or in any attachment).
>>
The post was migrated from Yahoo.
Just to re-visit this, how many of you ARE listing real property encumbrances on the Statement of Intent and how many are not?
It didn't used to be required, but the new form requires it. I believe Lou Esbin made a strong argument AGAINST listing them, but just wondering if anyone's run into any issues one way or the other yet.
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency
___________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
Just to re-visit this, how many of you ARE listing
real property encumbrances on the Statement of Intent and how many are
not?
It didn't used to be required, but the new form
requires it. I believe Lou Esbin made a strong argument AGAINST listing
them, but just wondering if anyone's run into any issues one way or the other
yet.
______________________Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173 (818)509-1460 (fax)web: http://www.bklaw.com/This Firm is aQualified Federal Debt Relief Agency___________NOTICE: This Electronic
Message contains information from the law office of Mark J. Markus that may be
privileged. The information is intended for the use of the addresseeonly. If you are not the addressee, note that any disclosure, copy,
distribution or use of the contents of this message is prohibited.IRS
CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS,
we inform you that any U.S. tax advice contained in this communication (or in
any attachment) is not intended or written to be used, and cannot be used, for
the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any transaction or
matter addressed in this communication (or in any
attachment).
The post was migrated from Yahoo.