Debtor Could Not Counter Motion to Lift Automatic Stay with Proposal to Pay Post-Petition Arrears on New Payment Schedule, as that would be an Alteration of Payment Terms in Violation of the Anti-Modification Clause in §1322(b)(2)

Debtor Could Not Counter Motion to Lift Automatic Stay with Proposal to Pay Post-Petition Arrears on New Payment Schedule, as that would be an Alteration of Payment Terms in Violation of the Anti-Modification Clause in §1322(b)(2)

Debtor filed a Chapter 13 petition, which the Court confirmed. The Debtor did not made a full mortgage payment to the Creditor since August 2016. A full monthly mortgage payments appears to be $2,320.41. Debtor’s post-petition arrearage on the mortgage exceeds $15,000. The Creditor moved to lift the automatic stay.

The Court previously ruled that Creditor is adequately protected by the equity in the
Property. Creditor argues that Debtor’s failure to make post-petition payments on the Note is sufficient cause for the Court to grant Creditor relief from the automatic stay. Debtor argues that he had difficulty meeting his financial obligations for reasons beyond his control but has recently caught up his plan payments that, among other things, cure pre-petition arrearages over time, and is prepared to begin making direct payments to Creditor on the Note to be applied to post-petition amounts due of $625.00 per week. At that rate, it would take more than three years for Debtor to bring current the postpetition amounts due under the mortgage.

Please note, in order to view NACBA Member Content, you must sign in and then visit NEWS. If you are not a NACBA member, you may Become a NACBA Member 

No Comments

Post a Comment