Handling Real Property-Secured Loans
in Chapter 13 Bankruptcy
A NorthLegal Webinar presented November 20, 2012
Approximate Duration: 2:02 hrs:min

Cost/Registration | How to Attend a Webinar

In recent years, Chapter 13 bankruptcy has emerged as a major tool homeowners can use to change their mortgage obligations.

Through Chapter 13, debtors can cure arrears and in some cases change payments and interest rates and reduce or eliminate entire balances of loans secured by real property.

Courts also use Chapter 13 to impose new obligations on creditors—including complex proof of claim filing and supplemental reporting obligations introduced late last year—and to strip away certain creditors' rights if those obligations are not satisfied "just so."

But although debtors have significant rights, those rights do have limits. Lenders secured by real property have rights as well. And there are steps you can take to reduce, manage or avoid losses if you act promptly and with knowledge.

During this November 1 program, attorney Eric North will talk with lending institutions and loan servicers about the rights and obligations you have when a real property loan borrower files Chapter 13 bankruptcy. Topics will include—

• What effect does discharge in Chapter 13 have on a loan secured by real property? Does the borrower still have an obligation to pay? (The answer might surprise you!)
• How can a debtor use Chapter 13 to cure a delinquent home loan? What should a creditor consider and what steps should a creditor take when a debtor does this?
• When can a debtor use Chapter 13 to force a creditor to accept lower payments or a lower interest rate—or to "cram down" the balance—on a real property-secured loan? How should the creditor respond?
• Under what circumstances may a debtor strip away a creditor's lien on real property entirely, and treat the balance owing as "unsecured?" What mistakes do creditors make that allow this to happen even when it shouldn't?
• What effect does the automatic stay have on pending foreclosures? On foreclosures completed just before the bankruptcy?
• What exactly do the rules adopted late last year require you to include in a proof of claim for a real property-secured loan, and what happens if the rules are not followed?
• When must a creditor file supplemental reports during the course of a Chapter 13 bankruptcy? What must be in the reports?
• What tools does a borrower's Chapter 13 bankruptcy give creditors that—if used properly—can help financial institutions make wise decisions and prevent unnecessary loss?
  

NOTE: This program is intended for employees of consumer lending institutions. Please contact NorthLegal Training and Publications to obtain approval before registering if you are not an employee of a consumer lending institution.

Cost/Registration
The fee to attend this archived program is $160.00 if paid by credit card or $170.00 if paid by check. For that fee, you or someone from your financial institution may view this program as often as you like for a period of 30 days.

How to Attend a Webinar
To attend this NorthLegal Webinar, please do the following:

• Register.  To register online using a credit card, visit the link shown in the grey box near the top of this page. To register by mail, call NorthLegal at 623.537.7150.
• Check your email. Within moments after you complete the registration process you should receive two emails.  One will be a receipt for the transaction and the other will contain a link and detailed instructions explaining how to use that link to attend the program. 
• Watch for an email the day before the program or the morning of the program telling you that the handout materials are ready to be downloaded.  (A link will also appear on this site's home page when the materials are ready.