(2) Bankruptcy notices. The statement that is periodic include the annotated following:
(i) a declaration distinguishing the buyer’s status as being a debtor in bankruptcy or the discharged status associated with home mortgage; and
(ii) a statement that the statement that is periodic for informational purposes just.
(3) Chapter 12 and chapter 13 consumers. As well as some other conditions of the paragraph (f) which will use, pertaining to home financing loan which is why any customer with main obligation is really a debtor in a chapter 12 or chapter 13 bankruptcy situation, certain requirements with this part are susceptible to listed here alterations:
1. Pre-petition re re payments and post-petition re payments. I. For purposes of § f this is certainly 1026.41(3), pre-petition payments are re re re payments built to cure the customer’s pre-bankruptcy defaults, and post-petition re payments are re re payments built to match the home mortgage’s regular re payments because they come due after the bankruptcy instance is filed https://speedyloan.net/installment-loans-ca/. As an example, assume a customer is $3,600 in arrears as of the bankruptcy filing date on home financing loan needing month-to-month regular payments of $2,000. The buyer’s of late filed bankruptcy plan calls for the customer to produce re re payments of $100 every month for 3 years to cover the pre-bankruptcy arrearage, and $2,000 every month to meet the month-to-month regular payments. Continue reading