Filed: Jul. 17, 2019
Latest Update: Jul. 17, 2019
Summary: STIPULATED ORDER FOR RELIEF FROM THE AUTOMATIC STAY ROBERT H. JACOBVITZ , Bankruptcy Judge . BSI Financial Services as servicer for LPP Mortgage LTD (the "Creditor"), by its undersigned counsel, and William Godbolt (the "Debtor" and together with Creditor, the "Parties"), by and through their undersigned attorney agree and stipulate as follows. RECITALS 1. The Creditor holds a first mortgage on the Debtor's property located at 2616 Globe Court SE, Rio Rancho, NM 87124, with a legal descr
Summary: STIPULATED ORDER FOR RELIEF FROM THE AUTOMATIC STAY ROBERT H. JACOBVITZ , Bankruptcy Judge . BSI Financial Services as servicer for LPP Mortgage LTD (the "Creditor"), by its undersigned counsel, and William Godbolt (the "Debtor" and together with Creditor, the "Parties"), by and through their undersigned attorney agree and stipulate as follows. RECITALS 1. The Creditor holds a first mortgage on the Debtor's property located at 2616 Globe Court SE, Rio Rancho, NM 87124, with a legal descri..
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STIPULATED ORDER FOR RELIEF FROM THE AUTOMATIC STAY
ROBERT H. JACOBVITZ, Bankruptcy Judge.
BSI Financial Services as servicer for LPP Mortgage LTD (the "Creditor"), by its undersigned counsel, and William Godbolt (the "Debtor" and together with Creditor, the "Parties"), by and through their undersigned attorney agree and stipulate as follows.
RECITALS
1. The Creditor holds a first mortgage on the Debtor's property located at 2616 Globe Court SE, Rio Rancho, NM 87124, with a legal description:
LOT 43, IN BLOCK 143, UNIT 13. AS THE SAME IS SHOWN AND DESIGNATED ON THE PLAT ENTITLED "TRACTS", `T', `U' `V', `W', `X', AND BLOCKS 123 THRU 146, UNIT 13, RIO RANCHO ESTATES, TOWN OF ALAMED GRANT, SANDOVAL COUNTY, NEW MEXICO". FILED IN THE OFFICE OF THE COUNTY CLERK OF SANDOVAL COUNTU, NEW MEXICO, ON OCTOBER 14, 1969 IN RIO RANCHO ESTATES PALT BOOK NO. 1, PAGE 98 AND AS SHOWN ON SURVEYS DATED AUGUST 3, 2006 IN VOL. 3. FOLLO 2694B, AND ON AUGUST 29, 2006 IN VOL. 3. FOLLO 2705A.
2. The Parties desire that 11 U.S.C. §362 automatic stay be lifted in favor of the Creditor so that it may pursue its remedies with respect to the Property, including foreclosure or deed-in-lieu and possession, in the State courts.
3. Upon entry of an Order by the Bankruptcy Court giving effect to this Stipulation, the Property shall be deemed abandoned by the Chapter 13 Trustee.
4. In the event that net proceeds are available after the sale of the property by Creditor after the payment of all proper costs of the sale, the payment to Creditor of any and all amounts properly due and owing, and the amount of any exemption permitted to the Debtor, any and all such net proceeds shall be paid immediately the Chapter 13 Trustee.
5. The Creditor shall be permitted to amend its proof of claim to an unsecured claim for any deficiency balance after the Property is sold.
6. Rule 4001(a)(3) of the Federal Rules of Bankruptcy Procedure shall not be applicable to the stipulated agreement herein.
7. The hearing set for June 6, 2019 at 9:00 a.m. is hereby VACATED.
IT IS SO ORDERED.
