claim description ?

[gettingby2008]

I logged in and checked the 13 data center today and I am wondering why one of the claims would read as surrendered as the claim descrition. It previously read as secured. This creditor is our 2nd mortgage and we filed a motion to strip on Monday 4/6. Is this normal?

[lrprn]

I logged in and checked the 13 data center today and I am wondering why one of the claims would read as surrendered as the claim descrition. It previously read as secured. This creditor is our 2nd mortgage and we filed a motion to strip on Monday 4/6. Is this normal?

If the claim read as surrendered is your second mortgage and you've filed to strip it, that means you have surrendered the loan back to the bank and that's what I believe what you are seeing on your 13DataCenter page. Check with your lawyer to be certain.

[spidge]

Surrendered is not a word I would like to see afiliated with my house. I guess it means the bank surrendered the lien?

[justbroke]

That particular claim is an "unsecured" claim. They are wording as such, that the original "secured" claim -- or what they would have had as a secured claim -- is no longer secured and that they want to be part of the general unsecured claim pool.

Based on your plan payments, they could get "some" money out of your bankruptcy over the commitment period.

[Gerry]

I logged in and checked the 13 data center today and I am wondering why one of the claims would read as surrendered as the claim descrition. It previously read as secured. This creditor is our 2nd mortgage and we filed a motion to strip on Monday 4/6. Is this normal?

Can I ask what it took to get your 2nd stripped after filing your 13? When I filed, the attorney had me use the county tax assessment as my home value, but I've since learned my house is worth far less - about the same as the balance of the 1st, in fact, which makes the 2nd unsecured. I've been researching forensic appraisals and loan reviews, but would love to know what steps you took to get this done.