Seller Financing

[leverage]

I've only made 2 payments in a 60 payment plan (we've had our 341 but not confirmed yet)- once we get confirmed is it still too early to ask the trustee to allow us more debt?

The mortgage payment is very close to the rent we used on our means test.

I'm thinking about asking the seller to give us a standard 6-month lease then finance it through him.

[justbroke]

I've only made 2 payments in a 60 payment plan (we've had our 341 but not confirmed yet)- once we get confirmed is it still too early to ask the trustee to allow us more debt?

The mortgage payment is very close to the rent we used on our means test.

I'm thinking about asking the seller to give us a standard 6-month lease then finance it through him.

Tough question.

While post-confirmation changes are allowed, and must be done through motion (read: costs money for your lawyer to do), getting this done sooner rather than later may be best.

You may want to ask your lawyer, but I would think that getting this done pre-confirmation would be better.

However, taking on more debt, before even getting to confirmation... may not be a good idea. Depends on the Trustee. Also depends on other factors, like what affect will taxes and insurance have on you. Even though the mortgage payment would be lower, there are other CO$T$ that you may not have factored.

In the end, is it necessary for regorganization?