310.376.9865
If one reviews my past post regarding Reaffirmations-Real Property, you will see most bankruptcy attorneys will decline to advise or sign off on a reaffirmation agreement for real property for a variety of reasons.
I ran across a local opinion from a New Hampshire Bankruptcy Court issued July 2012. The debtor filed a statement of intention indicating he would retain the property and continue to make the payments as they come due. The bank filed a motion to compel the Debtors to either reaffirm or surrender the property.
The Debtor argued that under the new (??) bankruptcy laws passed 2005, that the Congress specifically held that a reaffirmation agreement was required for PERSONAL PROPERTY, and the Congress was silent as to whether the new law required a reaffirmation agreement for REAL PROPERTY.
The Court held that since their district has held under the old bankruptcy law “ride throughs” (the procedure permitting the payment of a secured creditor without a reaffirmation agreement) were prohibited, that proceeding under the new laws “ride throughs” were prohibited in that district under the new law.
However, “ride throughs” are permitted in many other district around the United States, and are permitted for real property in the Central District of California.
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Los Angeles/Orange County Chapter 7 Bankruptcy Attorney- A Debt Relief Agency.
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
