Case No.: 07-18565-PM.United States Bankruptcy Court, D. Maryland.
June 23, 2008
CONSENT ORDER AND STIPULATION MODIFYING AUTOMATIC STAY
PAUL MANNES, 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 Charles County, Maryland against the real property and improvement known as 5506 Flounder Court, Waldorf, MD 20603 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 $4,274.12 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 lump sum payment of $4,166.48 which consists of the June 1, 2008 post-petition payment minus $107.64 from borrower suspense due by June 30, 2008.
The post-petition payments from March, 2008 to May, 2008 will be added to the end of the loan which will extend the maturity date by three (3) months.
The post-petition late charges of $1,177.56, the post-petition appraisal fee of $95.00, the NSF fees of $90.00 and the post-petition motion for relief filing fees and costs of $800.00 totalling $2,162.56 which will be added to an amended proof of claim and amended plan by Debtors Attorney within thirty (30) days of the entry 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.
Richard H. Gins, Esquire Attorney for Debtor.
Richard J. Rogers, Esquire Cohn, Goldberg Deutsch, LLC Towson, MD, Attorney for Movant.