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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Figuring the approximate sale date. Posted by Ward-CA- on May 09, 2003 at 6:08 PM In Reply to: DA child support JUD & EPA posted by Jorge on May 08, 2003 at 11:16 AM : Ward: : I probably will be signing an EPA sometime today. Sale is tomorrow . ( I am glad sale is at 1:30pm ). : Two things I am concerned about: : A) a DA child support JUd was file before property was : transfered to wife's name. NO amount stated, just payments. : According to wife ex has been paying the DA. : How that lien affects the title? Should I make allowances : for it in the EPA. : B) The seller is in bk 13 since 2002 but defaulted the plan : and lender got the order for relief of the auto stay back in : 03/16/03. Seller filed another bk13 the day of the schedule sale : 04/16/03. The new bk was dismissed 05/06/03. The sale is schedule : for 05/09/03. Will the sale take place? or will be postpone? : According to what I know, sale cant't take place until 05/14. : If they postpone to 5/14 they keep the 5 day reinstatement : window closed. : Would the BK clerk stamp a 3rd bare-bone bk13? : ( after all this time seller has managed to gather $10k but still about $4k short to reinstate) =•=•=•=•=•=•=•=•=•=•= Jorge, #A. Well, you know that when you do an EPA (Equity Purchase Agreement) and buy the property directly from the defaulting owner, then no lien gets wiped off title. So the child support lien, like any other lien, will remain on title until it’s released by the creditor. Since the wife is the final beneficiary of the lien, she should call the agency and ask what it’s approximate balance is. Then subtract that balance from her share of the 50/50 equity split you’re doing with her. #B. Federal rules in bankruptcy court require that the foreclosing lender wait 10 days after receiving the relief from stay before holding the foreclosure sale. So if the relief was granted on 5-06-03 then 10 days after that would be 5-16-03. So therefore, no sale can take place on 5-09-03 and it will be postponed to be in compliance with federal law. I think a 3rd emergency filing under the wife’s name in Chapter 13 is wishful thinking. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward: : : I probably will be signing an EPA sometime today. Sale is tomorrow . ( I am glad sale is at 1:30pm ). : : Two things I am concerned about: : : A) a DA child support JUd was file before property was : : transfered to wife's name. NO amount stated, just payments. : : According to wife ex has been paying the DA. : : How that lien affects the title? Should I make allowances : : for it in the EPA. : : B) The seller is in bk 13 since 2002 but defaulted the plan : : and lender got the order for relief of the auto stay back in : : 03/16/03. Seller filed another bk13 the day of the schedule sale : : 04/16/03. The new bk was dismissed 05/06/03. The sale is schedule : : for 05/09/03. Will the sale take place? or will be postpone? : : According to what I know, sale cant't take place until 05/14. : : If they postpone to 5/14 they keep the 5 day reinstatement : : window closed. : : Would the BK clerk stamp a 3rd bare-bone bk13? : : ( after all this time seller has managed to gather $10k but still about $4k short to reinstate) : =•=•=•=•=•=•=•=•=•=•= : Jorge, : #A. Well, you know that when you do an EPA (Equity Purchase Agreement) and buy the property directly from the defaulting owner, then no lien gets wiped off title. So the child support lien, like any other lien, will remain on title until it’s released by the creditor. : Since the wife is the final beneficiary of the lien, she should call the agency and ask what it’s approximate balance is. Then subtract that balance from her share of the 50/50 equity split you’re doing with her. : #B. Federal rules in bankruptcy court require that the foreclosing lender wait 10 days after receiving the relief from stay before holding the foreclosure sale. So if the relief was granted on 5-06-03 then 10 days after that would be 5-16-03. So therefore, no sale can take place on 5-09-03 and it will be postponed to be in compliance with federal law. : I think a 3rd emergency filing under the wife’s name in Chapter 13 is wishful thinking. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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