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Selling house to pay off 13 questions?!!

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    #1

    Selling house to pay off 13 questions?!!

    Hello All,

    I am in the 40th month of a 48-month ch. 13 plan under the old law. I want to sell my house, which is a part of the plan, and pay off my 13 balance (19k excluding house payment, according to the NDC website). As I understand it, the first mortgage gets paid and then the balance of the 13.

    1.Assuming that there are enough proceeds, is there a reason that the trustee may object to the sale?

    2. Can I just pay the balance of 19k and get out of the 13, without coming up with the remain mortgage payment before selling the house?

    3. How accurate is the info on the NDC website?

    Thank you in advance for your input,
    E.
    Tags: None
    #2
    Originally posted by spartanfan96 View Post
    1.Assuming that there are enough proceeds, is there a reason that the trustee may object to the sale?
    You must have your trustee's permission first to sell your house. Ask your lawyer to contact him/her and explain what you want to do.

    2. Can I just pay the balance of 19k and get out of the 13, without coming up with the remain mortgage payment before selling the house?
    The amount you see on NDC is not necessarily the actual amount you owe. When your lawyer contacts the trustee to request permission to sell your house, also have your lawyer ask what the pay-off amount is for your Ch 13. That's the only way to get a reliable pay-off figure.

    3. How accurate is the info on the NDC website?
    Not dependable. You need to get your pay-off figure directly from your trustee.

    You must be so happy to be so close to being done with your 13! Congrats!
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !
    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

    Comment

      #3
      Do I really need to get my attorney involve to ask permission or can I write the Trustee directly?

      Comment

        #4
        You can contact the trustee directly, but if you are represented by an attorney, the trustee may tell you to contact your attorney.

        However, most trustees will work with you over this issue as they realize that getting your attorney involved in this transaction is usually beyone the scope of your attorney's representation

        Comment

          #5
          also consider if your paying your unsecureds less than 100% the trustee may want more money if you there is any left.

          Comment

            #6
            Originally posted by wayne-o View Post
            also consider if your paying your unsecureds less than 100% the trustee may want more money if you there is any left.
            Because I am under the old law and beyond the 36-month period. the trustee can't ask for any additional funds.

            Comment

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