Order Lifting The Automatic Stay For Consensual Loss Mitigation Mortgage Modification (Ch7)

ORDER LIFTING THE AUTOMATIC STAY FOR CONSENSUAL LOSS MITIGATION/MORTGAGE MODIFICATION (Chapter 7). This form is used in the United States Bankruptcy Court, District of South Carolina, specifically in a Chapter 7 bankruptcy case. This order is issued in response to a request from the debtor to modify the automatic stay to facilitate loss mitigation/mediation with a specific creditor regarding property owned by the debtor. The automatic stay provided by 11 U.S.C. § 362 is lifted to the extent necessary for the debtor and creditor to engage in and complete any loss mitigation related to the property. The order allows the debtor and creditor to negotiate and enter into any consensual loan modification agreement, including trial modifications, permanent loan modifications, and the execution and recording of any other related documents. It also requires the debtor to promptly provide notice of any permanent loan modification by filing notice with the court. The order specifies that nothing therein waives any requirement applicable to the debtor pursuant to the Bankruptcy Code, Rules, Local Rules, Operating Orders, or any order entered in the case. www.FormsWorkflow.com