Addendum to Court-Approved Retention Agreement for Mortgage Modification Mediation Program
Official Procedure - Last Updated: February 09, 2022
References
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Bankruptcy>Other |
| Event |
Addendum to Court-Apporved Retention Agreement for Mortgage Modification Mediation Program |
| Rules / Code / Resources |
Fed.R.Bankr.P. 11 U.S.C. § Local Rule |
Background
The Chapter 13 Mortgage Modification Mediation Program is designed to help qualified Chapter 13 debtors renegotiate their mortgages and keep their homes. The Program supplies an electronic portal that assists communication between debtors and lenders.
The Program is entirely voluntary: both debtor and lender must consent to participate. Debtors and lenders are also free to modify mortgage obligations without using the Program and the portal. The Program simply provides parties with a new vehicle for doing so.
Debtors’ counsel who enter into the Court-Approved Retention Agreement and the new Addendum (Local Form 13-8.5) and who pursue a mortgage modification through the program will be presumptively entitled to additional flat fees as compensation.
On a motion by the creditor or debtor, after notice and hearing, the Court may approve an agreement to participate in the Loan Modification Mediation Program. Notice shall be given to creditors, the UST, the debtor and to any other entity as the Court may direct.
This addendum agreement between the debtor and the debtor's attorney expresses that the attorney will represent the debtor in seeking a modification of the debtor's mortgage through the Mortgage Modification Mediation Program. The addendum explains the duties of the debtor, attorney and the attorney's entitlement to attorney's fees.
Chapter 13 Mortgage Modification Mediation Program pdf
Addendum to Court Approved Retention Agreement for Mortgage Modification Mediation Program (Form 13-8.5)
Before You Begin
Before entering into this agreement:
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attorney must determine whether the debtor qualifies to participate in the program
- attorney must explain to the debtor all fees that the program requires in addition to the attorney's fees:
- the document preparation fee
- the portal submission fee
- the debtor's share of the program management fee
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debtor must provide to the attorney all financial information necessary for the program
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attorney must prepare or assist the debtor in preparing all documents necessary for the program
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debtor and attorney must make themselves available to participate and must participate in all discussions with the lender about a modification of the debtor's mortgage
Step-by-Step Procedures:
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Select Bankruptcy>Other
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Enter case number and click Next
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Select Addendum to Court-Approved Retention Agreement for Mortgage Modification Mediation Program from event pick list and click Next
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Select Party(s) from party pick list or Add/create new party, click Next
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The Attorney/Party Association screen may display. If it does, click here. If not, click Next, and go to step 6
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The PDF Document selection page will display.
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Browse, View, and Attach, click Next
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Relate to the applicable Motion and Application for Compensation. Click Next
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The Final Text screen will display. This is your final opportunity to modify the entry before submitting the filing. Click Next
- Verify the accuracy of the docket text.
If not correct, /if correct
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Click Next to complete the filing process
The Notice of Electronic Filling will display. It serves as verification that the filing has been sent electronically to the court.
Copies of this notice and the document filed are emailed to all participants who receive electronic notification in the case. You have a period of 15 days for a one time free look at the documents.