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Hi, I have a mortgage with GMAC that as you know went on a

Hi, I have a mortgage with...
Hi,
I have a mortgage with GMAC that as you know went on a chapter 11 bankruptcy.
I'm current with my payments and still pay correctly every month.
Today I received a letter telling me to file a "Proof of Claim" with a bare date of November 09, 2012.
Can you explain me why I received it and the risks I'm going through as a Home Owner?
Thank you,
Jeff XXXXXXXXXX
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Answered in 14 minutes by:
10/2/2012
cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
Verified

cortrightlaw : They have listed you as a potential creditor just to be cautious. Unless you believe that they owe you money for some reason but that would not make sense since they hold the mortgage.
Customer:

So, in my case I don't have to file this Proof of Claim and just wait right? I also asked for the risks I'm going through with my house. Anything you can say about it?


 

cortrightlaw : Yes there really is no reason to file the proof of claim. As to the risks on the home there should be none, they will restructure their company through the chapter 11 clear out some debt. Your loan I am asset to them so they will either keep the loan or in te even the company is eventually liquidated your loan would likely be sold to another lender.
Customer:

OK.


Thank you.

cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
Verified
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cortrightlaw
cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
513 Satisfied Customers
Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

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