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Santa Monica eyes bold turnaround plan amid financial troubles

It’s been a rough few years for Santa Monica.Businesses have abandoned its once-thriving downtown. Its retail and office vacancy rates are among the highest in Los Angeles County. The crowds that previously packed the area surrounding the ci...

May a homeowner in a Chapter 13 bankruptcy plan cram down the principal balance on a short-term second mortgage encumbering their primary residence and include rent from a rent-a-room tenant as income to support the new mortgage payments?

Facts: The owner of their principal residence encumbered by a short term second mortgage and a rent-a-room tenant paying rent under a leasing agreement files a petition for Chapter 13 bankruptcy protection. The property value is insufficient to...

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Main Content

Posts Tagged ‘plan’

Santa Monica eyes bold turnaround plan amid financial troubles

May a homeowner in a Chapter 13 bankruptcy plan cram down the principal balance on a short-term second mortgage encumbering their primary residence and include rent from a rent-a-room tenant as income to support the new mortgage payments?

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