Opinion
Case No. 10-34557-TJC
05-07-2012
In re: Joan M. Jaquette GMAC Mortgage LLC (as successor by merger to GMAC Mortgage Corporation), Movant v. Joan M. Jaquette, Debtor Respondent
Benjamin P. Smith, Esq. Diana C. Theologou, Esq. Attorney for Movant L. Norman Sanders L. Norman Sanders Attorney for Debtor
SO ORDERED
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U. S. BANKRUPTCY JUDGE
Chapter 13
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
The Movant, GMAC Mortgage LLC (as successor by merger to GMAC Mortgage Corporation), Movant, by its attorney, Diana C. Theologou, Esq., and the Debtor, Joan M. Jaquette by his/her attorney, L. Norman Sanders, do hereby consent to the following: 1. The Debtor shall cure the post-petition arrears due of $2,492.58, which includes payments for the months of March 2012 thru April 2012 as well as bankruptcy legal fees and costs of $826.00, LESS a suspense balance of 789.58. The Debtor shall make "additional" monthly payments of $415.43 commencing in May 2012 and continuing each month thereafter for a total of six (6) months until the arrears are paid in full. The "additional" payments must be received by the 25th day of the month. Note: Should the Debtor provide sufficient proof of payments made but not yet credited by Movant, the above arrears will be adjusted accordingly. 2. Commencing, in May 2012 the Debtor shall resume making the regular monthly payments and shall continue to be bound by all other provisions in the Note and Deed of Trust. The regular payments are due on the first day of the month with a late charge assessed after the fifteenth. All payments tendered in accordance with this Order should be sent directly to GMAC Mortgage LLC (as successor by merger to GMAC Mortgage Corporation), Movant, at the following address: GMAC Mortgage LLC (as successor by merger to GMAC Mortgage Corporation), Movant 1100 Virginia Ave Ft. Washington, Pennsylvania 19034 3. Should the Debtor default under Paragraph 1 or 2 herein, or should any payment be returned for insufficient funds, the Movant may file with the court and mail to the Debtor and their attorney an Affidavit of Default and Notice of Termination of Automatic Stay. Should the Debtor then fail to cure the default including any amounts which have become due between the execution of the Affidavit and the expiration of the cure period, within ten (10) days from the date of the filing of the affidavit, and/or should the Debtor fail to file an opposition to the Default Affidavit pursuant to Bankruptcy Rule 4001(a)(3), the stay shall terminate without further court action and without further court order. Should the Debtor file an Objection, Response or Motion to Strike the Affidavit of Default, the Debtor shall bear the burden of proof as to the inaccuracy of the Affidavit. Any payment(s) tendered to cure a default arising under the provisions of this consent agreement must be in the form of certified or cashier's check or money orders. If the Debtor fails to cure the default noted, the Noteholder may proceed to enforce its rights, including but not limited to foreclosure, under the provisions of the Deed of Trust recorded among the land records of Calvert County, Maryland, at Liber 02883 and folio 600 and which is secured by the property of the Debtor located at 1710 Grays Road, Port Republic, Maryland 20676. The additional stay provided by Bankruptcy Rule 4001(a)(3) is hereby waived. 4. Should there be more than two (2) defaults in payment as provided in this agreement, there shall be no ten day "cure period"; the Movant shall file the Affidavit of Default with the court and mail copies to the Debtor and their attorney and may proceed with collection and/or foreclosure actions immediately. 5. This agreement shall be and become null and void on the termination of this bankruptcy proceeding. Should the Debtors convert to a Chapter 7 proceeding, the automatic stay, and if applicable the co-debtor stay shall terminate effective with the conversion. This agreement shall apply to proceedings for possession of the real property after the foreclosure sale and shall apply to successors and/or assigns of Movant. 6. The Movant and/or its successors and assigns may, at its option, offer, provide and enter into a potential forbearance agreement and/or loan modification or other loan workout/loss mitigation agreement which does not otherwise require court approval. The Movant may contact the Debtor via telephone or written correspondence to offer such an agreement. Any such agreement shall be non-recourse unless included in a reaffirmation agreement. 7. Should the stay be lifted under the terms of this Order, the Movant, its successors and assigns, shall not be required to file notices of payment change under Bankruptcy Rule 3002.1.
SEEN AND APPROVED:
Benjamin P. Smith, Esq.
Diana C. Theologou, Esq.
Attorney for Movant
L. Norman Sanders
L. Norman Sanders
Attorney for Debtor
I HEREBY CERTIFY that the terms of the copy of the consent order submitted to the court are identical to those set forth in the original consent order; and the signatures represented by the /s/ ____ on the copy of the consent order submitted to the Court reference the signatures of consenting parties obtained on the original consent order.
Diana C. Theologou, Esq.
Copies to:
Joan M. Jaquette
1710 Grays Rd.
Port Republic, Maryland 20676
Copies were sent electronically thru the CM/ECF system to Benjamin P. Smith, Esq., L. Norman Sanders, Esq., and Timothy P. Branigan, Esq., Trustee.