Case No.: 07-11296-PM.United States Bankruptcy Court, D. Maryland.
October 22, 2007
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
PAUL MANNES, Bankruptcy Judge
Upon consideration of the foregoing Motion Seeking Relief from Automatic Stay, the parties having reached an agreement, and good cause having been shown, by the United States Bankruptcy Court for the District of Maryland.
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ORDERED that the Automatic Stay be, and it is, hereby terminated, pursuant to 11 U.S.C. 362(d), to permit Movant, its assigns and/or successors, to commence foreclosure proceedings in the Circuit Court for Prince George’s County, Maryland against the real property and improvement known as 4313 Briggs Chaney Road, Beltsville, MD 20705 and that the successful purchasers shall take possession of the same; and be it further
ORDERED that the relief granted in the immediately proceeding paragraph be, and the same is hereby stayed, provided that the Debtor(s):
1. Resume(s) making regular monthly payments on November 1, 2007 of $2,789.15 or as adjusted for escrow changes and continue thereafter, as well as all other conditions and obligations under the terms of the Deed of Trust or Mortgage, and
2. Make(s) a payment of $1,744.34 for SIX (6) months beginning November 25, 2007 and continue through April 25, 2008. The total post-petition arrearage due from July, 2007 to October, 2007 is $10,466.04 which includes $650.00 bankruptcy legal fees, $150.00 filing fee, $557.84 late charges and minus $2,048.40 from borrower suspense.
Payments should be mailed to:
Franklin Mortgage Capital Corporation
6700 Southpoint Parkway, Suite 500 P.O. Box 19160
Jacksonville, FL 322459160
Attn: Bankruptcy Department
Should the Debtor(s) fail to make any payment when due or should any payment be returned for insufficient funds, Movant shall file a Notice of Default with the Court. Said Notice shall provide copies to the Debtor(s) and Debtor(s)’ attorney and allow the Debtor(s) ten (10) days from the date the Affidavit of Default is mailed to cure two (2) default(s) under this agreement. Any cure of an Affidavit of Default must be made in the form of a certified or cashier’s check, or Western Union Quick Collect. No right shall be given to cure any ensuing default. In the event of a subsequent default and upon notice to Debtor(s), Debtor(s)’ counsel and the Court the stay shall automatically terminate.
The parties agree that if the Debtor(s) converts this case to a Chapter 7, the Movant may immediately exercise all rights provided by the security instruments referenced in this Order and applicable state law.
James Lenoardo Neher, Esquire, Attorney for Debtor.
Richard J. Rogers, Esquire, Cohn, Goldberg Deutsch, LLC, Towson, MD, Attorney for Movant.
SO ORDERED.