REVIEWING TERMS OF PROPOSED PLAN

By
Education & Training with Pan-Am Cros-star Loan Cert'n Bankport

   There are three aspects in the Terms Proposed, and they are:

  •  a).- Income
  •  b).- Schedule, and
  •  c).- Length

   You and your attorney MUST CAREFULLY review the proposed plan▬ before the confirmation hearing▬  to determine whether it is acceptable to you. Once the repayment plan has been confirmed, IT IS BINDING, unless the borrower defaults under the terms of the plan. As you review the plan, CONSIDER the following factors:

  • REGULAR INCOME▬ Does the borrower have enough regular income to make the payments required under the proposed repayment plan?
  • REPAYMENT SCHEDULE▬ Is the repayment schedule realistic, based on the borrower's disclosure statement and budget?
  • PLAN LENGTH▬ Will the plan end before the maturity date of the mortgage? (In most cases, the Court will account for maturity differences as part of the plan, and still confirm the plan.)

Luigi Mario FRASCINI

WARNING:This message contains information which may be confidential and privileged. Unless you are the addressee (or authorized to receive for the addressee),you may not use, copy or disclose to anyone the message or any information contained in the message.  If you have received the message in error,  please advise the sender by reply e-mail at homesbyluigi@hotmail.com, and delete the message. IRS Circular 230 Disclosure: To ensure compliance with Treasury Department Regulations, we advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions or (ii) promoting, marketing or recommending to another party any tax-related matter addressed herein. This information has been provided with the understanding that ANY and ALL questions regarding legal advise and ANY other professional services SHOULD BE DIRECTED to a qualified professional  who specializes in such services.

Luigi M. Frascini

Thank you, LM F      α<> Ω               (714) 296-3364                     homesbyluigi@hotmail.com

                                                                               

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Pan Am Cros Star, Loan Certification Bankport, LSD
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