Opinion
Case No. 10-39264-RAG
09-17-2012
In re: Mary Cobb Community Development Administration, Movant (M&T Bank, Servicer) v. Mary Cobb, Debtor Respondent
Michael T. Cantrell, Esq. Attorney for Movant Maximillian F. Van Orden, Esq. Attorney for Debtors
SO ORDERED
______________________
ROBERT A. GORDON
U. S. BANKRUPTCY JUDGE
Chapter 13
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
The Movant, Community Development Administration, Movant (M&T Bank, Servicer), by its attorney, and the Debtor, Mary Cobb by her attorney, Maximillian F. Van Orden, Esq., do hereby consent to the following: 1. The Debtor shall cure the post-petition arrears due of approximately $5,946.00; this figure is LESS a suspense balance of$112.00, and includes payments in the amount of $654.00 for the months of February 2012 through September 2012 per month, as well as bankruptcy legal fees and costs of $826.00. The Debtor will make "additional" monthly payments of $991.00 commencing in October 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 15th 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 October 2012 the Debtor shall resume making the regular monthly payments of $654.00, 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 assessed after the fifteenth day of the month. All payments tendered in accordance with this Order should be sent directly to Community Development Administration, Movant (M&T Bank, Servicer), at the following address: Community Development Administration, Movant (M&T Bank, Servicer)
1 Fountain Plaza
7th Floor
Buffalo, New York 14203
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 her attorney a Notice 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 Notice and the expiration of the cure period, within ten (10) days from the date of the filing of the Notice, and/or should the Debtor fail to file an opposition to the Notice 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 Notice, the Debtor shall bear the burden of proof as to the inaccuracy of the Notice. 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 Baltimore County, Maryland, at Liber 16456 and folio 349 and which is secured by the property of the Debtors located at 1408 Greenbriar Circle # 4, Baltimore, Maryland 21208. 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 Notice with the court and mail copies to the Debtor and her 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 Debtor 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. Upon termination of the stay, and any applicable co-debtor stay, the Movant, its successors and assigns shall be excused from filing notices of payment changes under Bankruptcy Rule 3002.1. SEEN AND APPROVED: ______________________
Michael T. Cantrell, Esq.
Attorney for Movant
______________________
Maximillian F. Van Orden, Esq.
Attorney for Debtors
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.
Michael T. Cantrell, Esq. Copies to: Mary Cobb
1408 Greenbriar Circle #4
Baltimore, Maryland 21208
Copies were sent electronically thru the CM/ECF system to Michael T. Cantrell, Esq., Maximillian F. Van Orden, Esq., and Ellen W. Cosby, Esq., Trustee.