Hi Des,
You are very knowledgeable and experienced and I have a question for you.
Reading your posts has been very gratifying and educational....thanks
After reading posts on this thread, I am more concerned than I was before. I have decided not to reaffirm my mtg. I am also beginning to consider "walking away" from my home. Perhaps 1 or 2 yrs down the road after all ducks are in a row. Not getting any younger and mowing a huge lawn gets harder and harder. Winters here are also harsh.
My atty was insisting that a 5yr old appraisal giving me $30,000 equity was valid, even tho the sr partner had agreed that it had probably dropped in value, and promised me they would "try" to do a comparison.
I was in shock that they did not really do a comparison, but chose to stay with this overblown appraisal.
I got a new bona fide appraisal from an indisputable appraiser, who teaches other appraisers, dropping my equity down to $977. It was only this new appraisal which gave me the confidence to convert from a 13 to a 7. Atty had me sign a bunch of papers and promised that now, with the new appraisal, I had an $11,000 wild card to apply anywhere I like. (Didn't really need it as my Assets totaled $12,226). But it was a relief to me (just in case) I do have some furniture (4 or 5 pieces) which might be classified as antiques.
I was in shock when 15 days later, my atty filed Scheduels based on the old appraisal. It was a nightmarish struggle to get the atty to file Amended Schedules, but I persisted. The corrected Schedules were posted on PACER. Chapter 7, 341 Hearing was basically uneventful and Trustee even discussed the new appraisal showing $977 equity.
Next day, the Trustee's report is based on the old 2005 Appraisal, even tho he discussed the new $977 equity with me. His report shows $69k Assets....$28,138 Exemptions. Amended Exemptions should have reflected $7,138 taking away the max exemption of $21,625
No way could my Assets = $69k
When queried, my atty says I do not need to understand the numbers. that my case will be discharged. That it is not a good idea to question a "successful verdict". This is all in my posting "Strange Attorney Actions" tho I don't want to make you read all of that.
However, my question is this: Hypothetical of course. What if down the road I find it necessary to File a Chapter 13 (don't really expect to, but another scenario could someday come up).......Can these incorrect figures in the Trustee's report come back to haunt me?
I have been considering contacting the Trustee's office to point out that the numbers in his report do not match the Amendments recorded on PACER. This will surely anger my atty. Should I just shut up and be grateful that it is deemed a No Asset No Distribution, and not worry about the incorrect numbers?
Any input you can give me will be most appreciated Des,
Thanks,
Chris
You are very knowledgeable and experienced and I have a question for you.
Reading your posts has been very gratifying and educational....thanks
After reading posts on this thread, I am more concerned than I was before. I have decided not to reaffirm my mtg. I am also beginning to consider "walking away" from my home. Perhaps 1 or 2 yrs down the road after all ducks are in a row. Not getting any younger and mowing a huge lawn gets harder and harder. Winters here are also harsh.
My atty was insisting that a 5yr old appraisal giving me $30,000 equity was valid, even tho the sr partner had agreed that it had probably dropped in value, and promised me they would "try" to do a comparison.
I was in shock that they did not really do a comparison, but chose to stay with this overblown appraisal.
I got a new bona fide appraisal from an indisputable appraiser, who teaches other appraisers, dropping my equity down to $977. It was only this new appraisal which gave me the confidence to convert from a 13 to a 7. Atty had me sign a bunch of papers and promised that now, with the new appraisal, I had an $11,000 wild card to apply anywhere I like. (Didn't really need it as my Assets totaled $12,226). But it was a relief to me (just in case) I do have some furniture (4 or 5 pieces) which might be classified as antiques.
I was in shock when 15 days later, my atty filed Scheduels based on the old appraisal. It was a nightmarish struggle to get the atty to file Amended Schedules, but I persisted. The corrected Schedules were posted on PACER. Chapter 7, 341 Hearing was basically uneventful and Trustee even discussed the new appraisal showing $977 equity.
Next day, the Trustee's report is based on the old 2005 Appraisal, even tho he discussed the new $977 equity with me. His report shows $69k Assets....$28,138 Exemptions. Amended Exemptions should have reflected $7,138 taking away the max exemption of $21,625
No way could my Assets = $69k
When queried, my atty says I do not need to understand the numbers. that my case will be discharged. That it is not a good idea to question a "successful verdict". This is all in my posting "Strange Attorney Actions" tho I don't want to make you read all of that.
However, my question is this: Hypothetical of course. What if down the road I find it necessary to File a Chapter 13 (don't really expect to, but another scenario could someday come up).......Can these incorrect figures in the Trustee's report come back to haunt me?
I have been considering contacting the Trustee's office to point out that the numbers in his report do not match the Amendments recorded on PACER. This will surely anger my atty. Should I just shut up and be grateful that it is deemed a No Asset No Distribution, and not worry about the incorrect numbers?
Any input you can give me will be most appreciated Des,
Thanks,
Chris
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