(Only) I’m filing chapter 13. We have one car that we owe $45k on at 8% - my husband got a job 2 years ago that he drives about 50k miles a year so now the car is worth maybe 20k
The other car we owe 48k at 7%. We got it 1.5 years ago and it doesn’t have many miles but the vehicle is...
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Vehicle Cram Downs
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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... -
jr001 started a topic "Cash Out Refi" $ from primary now rental used to buy new primary & BK restitution??in Chapter 13"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... -
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... -
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...Last edited by HHM; 10-03-2010, 01:31 PM. -
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... -
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... -
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! -
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... -
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...