WebLaw: When the Bankruptcy Court closes my case, I plan to send the below letter to the mortgage lender. Please critique it and/or make any changes that you deem appropriate. Also, please let me know what your fee will be to complete this request.
Proposed Letter to Bank:
Please refer to the separately attached Notice of Bankruptcy and Order of Discharge for Art (me).
It appears that the mortgage on Condo Unit 207 is defective. Specifically, my spouse did not execute the mortgage on the property that is owned by my spouse and me as tenants by the entireties. Nevertheless, for the purposes of settlement, my spouse and I request that the bank consider the following proposal:
1. My spouse and I will execute and deliver to Bank a deed in lieu of foreclosure for Condo Unit 203 (with a remaining mortgage balance of $133,000 discharged). I signed the Home Equity Account Agreement dated August 9, 2005. My spouse and I signed the mortgage and both of our names appear on the Deed.
2. Bank will execute and deliver to my spouse and me a release of the defective mortgage on Condo Unit 207. Business Bank Equity Line dated September 12,2005 was signed by the LLC. The mortgage was executed by me alone. The Deed to Unit 207 is in both of our names.
3. The parties will execute such additional documents as may be necessary to carry out the terms of this agreement.
If the agreement is not accepted in writing on or before September 16,2011, then the offer will be deemed rejected and withdrawn.
I will be available to discuss at your convenience. In any event, I thank you for your consideration.