Posted on: 26th Jan, 2010 07:07 pm
how much can a investment property be cram down on chapter 13 bankruptcy? i owe $310,000. my property is in california.
Hi morama,
As far as I know, in a cram down, the amount of debt equal to the current appraised value of the property would be treated as a secured claim and the excess amount of the loan would become an unsecured claim. The secured amount will have to paid in full through a repayment plan whereas the unsecured debt is usually not repaid in full.
Thanks
As far as I know, in a cram down, the amount of debt equal to the current appraised value of the property would be treated as a secured claim and the excess amount of the loan would become an unsecured claim. The secured amount will have to paid in full through a repayment plan whereas the unsecured debt is usually not repaid in full.
Thanks
Thanks