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Revision as of 06:49, 10 August 2024

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On demand of a financial institution with a claim safeguarded by the single property realty and after notification and a hearing, the court will give remedy for the automated remain to the lender unless the borrower submits a practical plan of reconstruction or starts making passion repayments to the creditor within 90 days from the date of the filing of the instance, or within one month of the court's resolution that the instance is a solitary asset real estate case.

Trigger for termination or conversion also includes an unexcused failure to prompt compliance with coverage and filing needs; failing to participate in the meeting of creditors or participate in an examination without excellent cause; failing to timely give information to the U.S. trustee; and failing to prompt pay post-petition tax obligations or timely data post-petition returns Fed.