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  • Cram Down Rental Property- Is there anyone doing this?

    Can anyone discuss their experiences wtih a cram down on a rental property. We will be filing BK, and am looking at doing a Ch 13. I know a Ch. 11 is a possibilty if we wanted to spread the payments out longer than 5 years. (and be in in longer!) Ch. 11 may have other advantages, not sure if not having...
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    Last edited by jr001; 06-23-2012, 09:07 PM. Reason: missed a few words

  • "Cash Out Refi" $ from primary now rental used to buy new primary & BK restitution??


    Does anyone have info about how this would play into a BK and if there would be any restitution needed to be paid from us on the cash out recvd? I'm still researching, but maybe a ch. 11 (even though not mentioned too much here) or a Ch. 13.

    We had a primary townhome...
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  • dmadm
    started a topic Cram Down on Auto being challenged

    Cram Down on Auto being challenged

    I filed my Chapter 13 October 28, 2010. I filed a chapter 7 in February of this year and all debt was discharged. I re-affirmed my auto and my residence is in foreclosure and I owe 62,000 in back taxes.

    I filed my chapter 13 Pro Se and today I received my first obection to confirmation...
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  • Chapter 13, Consensual 2nd Mortgage CRAMDOWN on primary residence.

    I apologize in advance because this post will get a little technical.

    You read that right, cram-down on 2nd mortgage. Interesting new (revised) strategy emerging for dealing with 2nd mortgages on primary residence. Since...
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    Last edited by HHM; 10-03-2010, 04:31 PM.

  • scs30885
    started a topic Help!! Lien strip / cram down

    Help!! Lien strip / cram down

    I want to file chapter 13 but my scenario is a little different then most.

    1st mortgage owed: $128,000
    2nd mortgage owed: $118,000
    TOTAL OF 2 MORTGAGES = $246,000

    My property which is a duplex is worth about $161,000

    Can I still do a LIEN STRIP...
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  • NoTomatoCan
    started a topic Rental Property - thoughts...

    Rental Property - thoughts...

    Ok, so my wife and I are just about to file. It has been a long few months, but this forum has been great!

    We met with our attorney last week and he had an interesting suggestion and I wanted to get some feedback/thoughts about it...

    Our initial proposed payment was...
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  • 2nd on Prop Bought as Primary, then Converted to Rental

    I'm new to the forum. If I bought my home as my primary residence, then got a 2nd mtg HELOC, then converted it to a rental, and I owe 88k on 1st and 60k on 2nd and it's worth $130k, can I cram down the 2nd because it's an investment property now? Or what are my options? Thanks!
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  • marriedcat
    started a topic 722 redemption same as 910 claim?

    722 redemption same as 910 claim?

    I have a autoloan from Capital one auto. I purchased it exaclly 2 years ago today. I owe $10,200 but the current value of the car is roughly $4500. I am not behind on my payments or anything but it would be great if I can reduce this debt. My lawyer said he would talk to me about a cram down claim also...
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  • norwoodguy1
    started a topic Cram down/behind on my payments chapt 13

    Cram down/behind on my payments chapt 13

    I am 2 1/2 months behind in my car payment and falling behind on others. i am filling chapter 13. I have a 2005 hyundai values at 5,000 on several web sites..I owe 9700 on it. When I file the chapter 13 how do I handle the past due amount before my payment plan goes into effect. All the literature says...
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