16
Jul
2020
Chapter 13 Plan Cures Arrearage
Debtors’ residence was in a mortgage foreclosure when, after the foreclosure judgment but prior to the sheriff’s sale, the debtors filed a Chapter 13 bankruptcy.
The debtors’ Chapter 13 Plan provided for curing the prepetition arrearage over the term of the Chapter 13 plan and also provided for regular monthly payments on the mortgage after the filing of bankruptcy.
The Bankruptcy Court found that the debtors could be saved from the foreclosure proceeding by providing a repayment plan that cured the arrearage to the mortgagee.
Author: Charles R. Harroun, Attorney at Law
This entry was posted
on Thursday, July 16th, 2020 at 4:32 am and is filed under Bankruptcy, Mortgages, Secured Loans.
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