A Response to Notice of Final Cure Payment is a document submitted by a debtor to a creditor or collection agency in response to a Notice of Final Cure Payment. The response is usually in the form of a signed statement indicating that the debtor has received the notice, understands the terms of the notification and is willing and able to meet the payment obligations. The response may also include a payment plan or other agreements between the debtor and creditor. There are two main types of Response to Notice of Final Cure Payment: voluntary and involuntary. A voluntary response is when a debtor willingly agrees to the terms of the notice and is willing and able to make the payment. An involuntary response is when a debtor is unable to meet the payment obligation and must negotiate a payment plan with the creditor.
Response to Notice of Final Cure Payment
Description
Form popularity
FAQ
Cure Payment means the payment of Cash or the distribution of other property (as the parties may agree or the Bankruptcy Court may order) that is necessary to cure any and all defaults under an executory contract or unexpired lease so that such contract or lease may be assumed, or assumed and assigned, pursuant to
Stopping the Foreclosure Process Once the foreclosure process has started, a property owner, or another lienholder, may stop the process by ?curing? the default. A written Notice of Intent to Cure must be filed with the Public Trustee's Office no later than 15 days prior to the scheduled sale date.
Cure Amounts means all amounts, costs and expenses required by the Bankruptcy Court to cure all defaults and other amounts outstanding under the Assumed Contracts and Additional Assumed Contracts to the extent required so that they may be assumed by the applicable Selling Entities and assigned to Buyer pursuant to
Bankruptcy Rule 3002.1(g) provides that once the trustee files a Notice of Final Cure of mortgage payments, a mortgage lender must file a response within 21 days indicating whether it agrees that the arrears have been fully cured and whether payments are current.
Overview. A Notice of Final Cure Mortgage Payment is filed by the trustee within 30 days of the date the debtor completes all payments under the plan. The purpose of the notice is to state whether the debtor has paid the full amount required to cure the mortgage default.
Creditors must file a response to the notice of final cure payment within 21 days after service of the notice. This response will state whether the creditor agrees that all arrears have been paid. The response will also state whether any post-petition amounts under the mortgage loan remain unpaid.