Case No.: 07-18365-TJC.United States Bankruptcy Court, D. Maryland.
June 16, 2008
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
THOMAS CATLIOTA, Bankruptcy Judge
TO THE HONORABLE, THE JUDGE OF SAID COURT:
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 Montgomery County, Maryland against the real property and improvement known as 12933 Summit Ridge Terrace, Germantown, MD 20874 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 July 1, 2008 of $4,995.58 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. The total post-petition payments from March, 2008 through June, 2008 are being deferred and the maturity date will be extended.
The post-petition late charges of $1,813.18, the post-petition bpo fees of $95.00, and the post-petition attorneys fees and costs of $800.00 totalling $2,708.18 will be put into an amended plan and an amended proof of claim within thirty days (30) of the date of this Order.
Payments should be mailed to:
Franklin Credit Management Corporation
101 Hudson Street, 25th floor
Jersey City, NJ 07302
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 ten (10) day stay of Bankruptcy Rule 4001(a)(3) is waived.
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.
SO ORDERED.
Laura J. Margulies, Esquire, Attorney for Debtor.
Richard J. Rogers, Esquire, Cohn, Goldberg Deutsch, LLC, Towson, MD, Attorney for Movant.