Opinion
Case No.: 07-20149-RAG.
July 31, 2008
Michael O. Ramsey, Esquire, Attorney for Debtor.
Richard J. Rogers, Esquire, Cohn, Goldberg Deutsch, LLC, Towson, MD, Attorney for Movant.
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
TO THE HONORABLE, THE JUDGE OF SAID COURT:
Upon consideration of the foregoing Motion Seeking Relief from Automatic Stay, the parties having reached an agreement, and good cause having been shown, by the United States Bankruptcy Court for the District of Maryland.
ORDERED that the Automatic Stay be, and it is, hereby terminated, pursuant to 11 U.S.C. 362(d), to permit Movant, its assigns and/or successors, to commence foreclosure proceedings in the Circuit Court for Baltimore County, Maryland against the real property and improvement known as 9884 Bayline Circle, Owings Mill, MD 21117 and that the successful purchasers shall take possession of the same; and be it further
ORDERED that the relief granted in the immediately proceeding paragraph be, and the same is hereby stayed, provided that the Debtor(s):
1. Resume(s) making regular monthly payments on August 1, 2008 of $1,790.80 or as adjusted for escrow changes and continue thereafter, as well as all other conditions and obligations under the terms of the Deed of Trust or Mortgage, and
2. Make(s) a payment of $1,091.85 for six (6) months beginning August 20, 2008 and continue through January 20, 2009. The total post-petition arrearage due from April, 2008 to July, 2008 is $6,551.06 which includes $625.00 bankruptcy legal fees, $150.00 filing fee, $310.72 late charges and less $1,697.86 in borrower's suspense.
Payments should be mailed to:
Popular Mortgage Servicing Inc.
121 Woodcrest Road
Cherry Hill, NJ 08003
Attn: Bankruptcy Department
Should the Debtor(s) fail to make any payment when due or should any payment be returned for insufficient funds, Movant shall file a Notice of Default with the Court. Said Notice shall provide copies to the Debtor(s) and Debtor(s)' attorney and allow the Debtor(s) ten (10) days from the date the Affidavit of Default is mailed to cure two (2) default(s) under this agreement. Any cure of an Affidavit of Default must be made in the form of a certified or cashier's check, or Western Union Quick Collect. No right shall be given to cure any ensuing default. In the event of a subsequent default and upon notice to Debtor(s), Debtor(s)' counsel and the Court the stay shall automatically terminate.
The ten (10) day stay of Bankruptcy Rule 4001(a)(3) is waived.
The parties agree that if the Debtor(s) converts this case to a Chapter 7, the Movant may immediately exercise all rights provided by the security instruments referenced in this Order and applicable state law.