Opinion
Case No. 08-22877-RAG.
March 18, 2011
Deborah K. Curran, Esq., Attorney for Movant.
Jeffrey M. Sirody, Esq., Attorney for Debtor.
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
The Movant, Community Development Administration, Movant (Bogman, Inc., Loan Servicer), by its attorney, Deborah K. Curran, Esq., and the Debtor, Lakeisha D Butts aka Keisha Butts aka Lakusha Butts and the Non-Filing Co-Debtor, William Butts, Jr. by his/her attorney, Jeffrey M. Sirody, Esq., do hereby consent to the following:
1. The Debtor shall cure the post-petition arrears due of $2,778.04, which includes payments in the amount of $963.00 and late charges in the amount of $38.52 for the months of January 2011 thru February 2011 as well as bankruptcy legal fees and costs of $775.00, by making "additional" monthly payments of $463.01 commencing in March 2011 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. Additionally, in March 2011 the Debtor shall resume making the regular monthly payments of $963.00, or as adjusted for interest rate or escrow changes 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 of $38.52 assessed after the fifteenth.
All payments tendered in accordance with this Order should be sent directly to Community Development Administration, Movant (Bogman, Inc., Loan Servicer), at the following address:
Bogman, Inc.
12301 Old Columbia Pike
Suite 200
Silver Spring, Maryland 20904
3. Should the Debtor fail to make any payment when due, or should any payment be returned for insufficient funds, the Movant will file with the court and mail to the Debtor and her attorney an Affidavit of Default and Notice of Termination of Automatic Stay. Should the Debtor then fail to cure the default within ten (10) days from the date of filing of the default 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. 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 Harford County, Maryland, at Liber 4461 and folio 373 and which is secured by the property of the Debtor located at 955 Pirates Court, Edgewood, Maryland 21040. There is no additional stay provided by Bankruptcy Rule 4001(a)(3).
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.
5. This agreement shall be and become null and void on the termination of this bankruptcy proceeding. Should the Debtor convert to a Chapter 7 proceeding, this agreement shall constitute the Debtor's consent to the termination of the automatic stay and the repayment provisions in Paragraph (1) shall be and become null and void. This agreement shall apply to proceedings for possession of the real property after the foreclosure sale.
6. The Movant and/or its successors and assigns may, at its option, offer, provide and enter into a potential forbearance agreement 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 nonrecourse unless included in a reaffirmation agreement.
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.