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  • Insolvent
    started a topic High Income - 100% Plan - Starting the road.

    High Income - 100% Plan - Starting the road.

    I've met with the attorney, filled out all the paperwork, and paid the filing fees. The road is just beginning. My payment is an outrages amount, just under $900 every two weeks. My filing has everything in it that a person should not have. There's an RV, timeshares, two cars, credit card debt,...
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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??

    Hi,

    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.

    http://www.cob.uscourts.gov/opinions...891opinion.pdf

    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

    Hi,
    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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