Opinion
Case No. 12-24970
2012-10-09
In re: Raymund Cornejo Debtors Raymund Cornejo Movant(s), v. Bank of America, N.A. Respondent(s).
Sandy Y. Chang, Esq. The Chang Law Firm Rockville, MD 20850 Attorney for Debtor(s) Scott R. Robinson, Esq. The Fisher Law Group, PLLC Attorney for Respondent(s) Bank of America, N.A.
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U. S. BANKRUPTCY JUDGE
Chapter 13
STIPULATION RESOLVING DEBTORS' MOTION TO AVOID LIEN
ON PRINCIPAL RESIDENCE PURSUANT TO 11 U.S.C. § 506
It is hereby stipulated and agreed by and between Debtor Raymund Cornejo, by and through counsel Sandy Y. Chang, and Bank of America, N.A. as a servicing agent on behalf of Greenpoint Mortgage Funding, Inc., hereinafter "Creditor" that:
1. Creditor's claim on the property, 13023 Robins Nest Terrance, Germantown, Maryland, 20874 shall be allowed as a non-priority general unsecured claim and shall be paid as such in accordance with the Debtors' Chapter 13 Plan.
2. The avoidance of Creditor's second lien is contingent upon the Debtors' completion of the Chapter 13 plan and receipt of a Chapter 13 discharge.
3. Creditor shall retain its lien for the full amount due under the subject loan should the subject property be sold or should a refinance take place prior to completion of the Chapter 13 Plan and entry of a Discharge.
4. Creditor shall retain its lien for the full amount due under the subject loan in the event of either the dismissal of the Debtors' Chapter 13 case or the conversion of the Debtors' Chapter 13 case to any other Chapter under the United States Bankruptcy Code.
5. In the event that any entity, including the holder of the first lien on the Subject Property, forecloses on its security interest and extinguishes Creditor's lien prior to the Debtors' completion of the Chapter 13 Plan and receipt of a Chapter 13 discharge, Creditor's lien shall attach to the surplus proceeds of the foreclosure sale for the full amount of the subject loan balance at the time of the sale.
SEEN AND CONSENTED:
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Sandy Y. Chang, Esq.
The Chang Law Firm
Rockville, MD 20850
Attorney for Debtor(s)
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Scott R. Robinson, Esq.
The Fisher Law Group, PLLC
Attorney for Respondent(s)
Bank of America, N.A.
CERTIFICATION OF CONSENT
I HEREBY CERTIFY that the terms of the copy of the Stipulation submitted to the Court are identical to those set forth in the original stipulation; and the signatures represented by the /s/ on this copy reference the signatures of consenting parties on the original stipulation.
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Sandy Y. Chang, Esq.