Cure Your Mortgage Arrears in a Chapter 13 Bankruptcy in Order to Keep Real Property

We consulted with a medical practice that had substantial liability associated with old equipment leases and other obligations. One of the company’s creditors filed a lawsuit. The value of the company’s assets was far less than the total amount of its liabilities. If sold as a going concern, the company would derive much more value for its creditors than if its assets were liquidated. However, the cost of Chapter 11 was prohibitive.

We consulted with a medical practice that had substantial liability associated with old equipment leases and other obligations. One of the company’s creditors filed a lawsuit. The value of the company’s assets was far less than the total amount of its liabilities. If sold as a going concern, the company would derive much more value for its creditors than if its assets were liquidated. However, the cost of Chapter 11 was prohibitive.

A client consulted with us in an effort to save her homestead property and investment property. Her children lived in her investment property, so she didn’t want to lose it. However, the client hadn’t paid her mortgage payments or real estate taxes in years on either property.

We filed a Chapter 13 bankruptcy for this client. We were able to cure and maintain her monthly obligations and save both properties. The client was able to maintain the regular monthly payment of $342.78 a month on her homestead, and cure the $22,881.12 in arrearages over 5 years. She was also able to save her investment property by making the regular monthly mortgage payment, the regular monthly homeowner’s association payment of $235.00, and curing the $17,884.38 in arrearages over 5 years. This client did not have any unsecured debt.

We call this type of case a cure and maintain plan. It is a strategic Chapter 13 that allows a debtor to force a monthly payment on a bank without its consent and allows a debtor to become current at the end of the 5-year plan.

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       If you are considering filling for bankruptcy , this would be the firm to use! Jonathan is very experienced as well as all of his team, Specially Anne ! They made the process very easy and my case was approved due to their help and expertise! I am very grateful to have had them representing me !
  
 
    
   Xime Basa 
 2023-09-28
 
 
 
      I highly recommend LSS Law. No complaints. Jonathan, Ann, and Maria were very professional and clear in all our communications, which makes everything really easy.
  
 
    
   Donald Galindo 
 2023-09-05
 
 
 
      Great service. Friendly and helpful staff. Highly recommend.
  
 
    
   Al La 
 2023-03-29
 
 
 
      Jonathan and Anne were wonderful and I thank you for helping me with my new beginning.
  
 
    
   ADRIANNE SURRENCY 
 2023-03-29
 
 
 
      I had a wonderful experience with Jonathan Leiderman at LSS Law. Not only is he well experienced, but he is also very patient and supportive throughout a tough time. I appreciate that he takes such a hands-on approach where there is no going through office staff and waiting for a reply. He deals with you one-on-one, and he is your single point of contact. He takes time to answer all your questions and takes the time to ensure that you understand every aspect. He is highly communicative and does so in a timely manner.... I always got a response within minutes or hours, at the latest 24 hours. I don't know how he does it all, but I am grateful that I had him to represent me! I highly recommend Jonathan and LSS Law!
  
 
    
   Jewel Nicholson 
 2023-02-16
 
 
 
      Jonathan Leiderman did a phenomenal job representing me and taking on my case.  His knowledge, experience, and diligence quickly became apparent through his work product and the correspondence that he maintained with me.  Furthermore, he was always quick to answer my questions and put my mind at ease during the entire process.  Jonathan and LSS Law will forever have my gratitude and I highly recommend their services to anyone who is in need of them.
  
 
    
   Ali 
 2023-02-06
 
 
 
      I am really greatful to attorney Jonathen Leiderman for patiently working with me through a very stressful period of ambivalence, and then towards resolution of a difficult predicament. His professionalism and empathy were exceptional. I would recomend him to all who need similar services.
  
 
    
   Peter G 
 2022-04-04
 
 
 
      Excellent company to work with providing timely advice and guidance.  Went above and beyond in assisting our company with an out of state bankruptcy issue
  
 
    
   Diane Artioli 
 2021-10-08
 
 
 
      This company was very professional, sympathetic and very reasonably priced.
  
 
    
   Kemel Gajraj 
 2021-09-13

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Xime Basa

If you are considering filling for bankruptcy , this would be the firm to use! Jonathan is very experienced as well as all of his team, Specially Anne ! They made the process very easy and my case was approved due to their help and expertise! I am very grateful to have had them representing me !

Donald Galindo

I highly recommend LSS Law. No complaints. Jonathan, Ann, and Maria were very professional and clear in all our communications, which makes everything really easy.

Walter Laramore

Jonathan is quite splendid to deal with and has been an ideal representative for my case. Well prepared, great attention to detail, and very empathetic to my needs. Superior communication skills and gets back with you, anticipating your needs. Worth every penny!

Tavy Bastos

I had a great experience. Jonathan was very attentive, patient and knowledgeable. I had consulted with a different office before that was subpar and didn't provide all of the options provided by this one. I felt secure and in good hands with the representation.

Adrianne Surrency

Jonathan and Anne were wonderful and I thank you for helping me with my new beginning.

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Cure Your Mortgage Arrears in a Chapter 13 Bankruptcy in Order to Keep Real Property

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