what is a consent order debtors motion to determin secured status.

[brass598]

Recived a letter from NJBK CP 13 court is says
Orderd, Adjudged and degreed that:
1. That PNC Bank is deemed to have secured a claim of $0.00 in the debetors real property
2. That PNC Bank claim shall be treated as an allowed unsecured claim in the amount of $60,000
3. PNC shall NOT be required to release its mortgage until the plan has been successfully completed

What does this all mean ???????

Can't call lawyer it's Saturday

Thank you

[despritfreya]

By stipulation between you and PNC with a Court Order approving the stipulation, you stripped off your second mortgage due to lack of equity. However it is not "official" until you complete your Plan. You have accomplished one of the goals of your 13. The 2nd is now an unsecured creditor and, at the completion of your Plan, it will release its Deed of Trust/Mortgage.

Des.

[momofthree]

Your lien strip has been approved. Congrats!

[df04527]

Now THAT'S an awesome Christmas present! Congrats