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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
Greenbelt Division

IN RE: Debtor Name

Debtor(s)

| | | | | |

Case No. Chapter 13

MOTION FOR AUTHORITY TO INCUR SECURED DEBT FOR THE PURPOSE OF MODIFYING THE TERMS OF AN EXISTING SECURED LOAN FOR REAL PROPERTY AND NOTICE OF OPPORTUNITY TO OBJECT The Debtor(s) hereby seeks Court authority to incur secured debt for the purpose of modifying the terms of an existing secured loan for real property, and submits the following information regarding the modified loan:

1. 2. 3.

The address of the real property is _____________________________________________. The holder of the secured claim is ______________________________________________. The amount of the proposed modified secured claim is $___________________________. This amount does ______ or does not _____ (check one) include pre-petition arrears currently being paid through the plan.

4.

The monthly amount of the modified secured claim payment is $__________________. This amount does_____ or does not_____ (check one) include real estate taxes and hazard insurance to be escrowed by the holder of the modified secured claim. The monthly escrow amount is $________________. The current monthly secured claim payment is $_________________.

5.

INTEREST TERMS: A. Fixed rate loan with an interest rate of _______% for a duration of _____ years.

OR

B. Adjustable rate loan or ARM with a fixed interest rate of _____% for a duration of ____ years; then interest will adjust every ____ years. The total loan duration is ____ years. Additional information: a. Rate adjustment is limited to an increase of ____ per each adjustment. b. Rate adjustment over the life of the loan is limited to _____.

6. The loan modification does _____ or does not _____ (check one) affect the terms of the confirmed plan in the case. If the loan modification does affect the terms of the confirmed plan in the case, the Debtor(s) will separately file a motion to modify the confirmed plan. This motion does not constitute a motion to modify the confirmed plan. The Debtor(s) hereby acknowledges that the terms of the confirmed plan remain in effect until such time as any plan modification is approved by the Court. 7. The loan modification will not alter or affect the status or priority of any other existing lien(s) on the real property. 8. The Debtor has advised the holder of the modified secured claim that it must either file an amended proof of claim or withdraw the filed proof of claim within 30 days of the closing of the loan modification transaction.

WHEREFORE, the Debtor submits that this loan modification is in the best interest of the Debtor and the creditors as it will increase the feasibility of the Chapter 13 plan.

Date: March 9, 2009

Respectfully submitted,

/s/

.

Debtor Debtor's Address: __________________ __________________ Phone number: __________________

/s/

.

Debtor Debtor's Address: __________________ __________________ Phone number: __________________

NOTICE OF OPPORTUNITY TO REQUEST A HEARING TO CREDITORS AND PARTIES IN INTEREST You are notified of the filing of the foregoing Motion by the Debtor requesting Court authority to incur secured debt for the purpose of modifying the terms of an existing secured loan for real property. Any interested party objecting to the loan modification must file an objection with the United States Bankruptcy Court for the District of Maryland within twenty (20) days after the date of this motion. You are further notified that unless an objection is filed, the Court may grant the motion without a hearing.

CERTIFICATE OF SERVICE I hereby certify that this Motion for Approval of Loan Modification was served this ___ day of ______, 20__ electronically to those recipients authorized to receive a Notice of Electronic Filing by the Court, and/or by first class mail, postage prepaid to: Debtor Chapter 13 Trustee All Creditors and Parties in Interest /s/ Debtor .

UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND
Greenbelt Division

IN RE: Debtor Name

Debtor(s)

| | | | | |

Case No. Chapter 13

ORDER AUTHORIZING LOAN MODIFICATION _________________________________________

Upon a motion and/or notice by the debtor for authority to enter into an agreement to modify an existing secured loan for real property, it is by the United States Bankruptcy Court for the District of Maryland, ORDERED, that the Debtor(s) is/are authorized to enter into a modification of an existing secured loan agreement according to the terms set out in the motion; and it is further ORDERED, that the terms of the confirmed plan in this case are not hereby modified, and any plan modification must be effected by separate motion and order pursuant to section 1329 of the Bankruptcy Code; and it is further ORDERED, that this order does not alter or affect the status or priority of any other existing lien(s) on the real property that is the subject of the loan modification, and it is further ORDERED, that upon the finalization of the loan modification, the Debtor shall immediately transmit a copy of the signed loan modification agreement to the Chapter 13 Trustee.

copies to:

Debtor Chapter 13 Trustee All Creditors and Parties in Interest END OF ORDER