Case No. 09-24101-TJC.United States Bankruptcy Court, D. Maryland.
August 31, 2010
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
THOMAS CATLIOTA, Bankruptcy Judge
The Movant, Deutsche Bank National Trust Company, as Trustee for the Certificate Holders of Merrill Lynch Mortgage Investors Trust, Mortgage Loan Asset-Backed Certificates, Series 2007-MLN1, by its attorney, Deborah K. Curran, Esq., and the Debtor, Michael Gemechu Astatkie by his/her attorney, Kevin D. Judd, do hereby consent to the following:
1. The Movant shall file an Amended Proof of Claim to add the outstanding post-petition arrearage in the amount of $18,638.74 to the Proof of Claim to be paid through the Chapter 13 Plan. The total post-petition arrears include payments in the amount of $3,986.09 and late charges in the amount of $199.30 for the months of April 2010 thru August 2010 as well as bankruptcy legal fees and costs of $800.00. The Debtor shall file a Motion to Modify the Plan that is already in effect to include the full amount due.
2. Additionally, in September 2010 the Debtor shall resume making the regular monthly payments of $3,986.09, 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 $199.30 assessed after the fifteenth.
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All payments tendered in accordance with this Order should be sent directly to Deutsche Bank National Trust Company, as Trustee for the Certificate Holders of Merrill Lynch Mortgage Investors Trust, Mortgage Loan Asset-Backed Certificates, Series 2007-MLN1, (Bank of America, Loan Servicer), at the following address:
BAC Home Loan Servicing, LP
Bankruptcy Department
Mail Stop TX2-982-03-03
7105 Corporate Drive
Plano, TX 75024-0000
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 defaultarising under the provisions of this consent agreement must be inthe 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 Montgomery County, Maryland, at Liber 26792 and folio 001 and which is secured by the property of the Debtor located at13102 Shinnecock Drive, Silver Spring, Maryland 20904. 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
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telephone or written correspondence to offer such an agreement. Any such agreement shall be nonrecourse unless included in a reaffirmation agreement.
SO ORDERED
Deborah K. Curran, Esq., Attorney for Movant.
Kevin D. Judd, Attorney for Debtor.
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Notice Recipients
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