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2:08-bk-21855-VK Doc 55 Filed 10/09/09 Entered 10/09/09 09:53:21

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ANDREW E. SMYTH, ESQ.
Attorney at Law
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State Bar No. 60030
3 4929 Wilshire Boulevard, Suite 605
Los Angeles, California 90010
4 Telephone: (323) 933-8401
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Attorneys for Debtors
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8 UNITED STATES BANKRUPTCY COURT

9 CENTRAL DISTRICT OF CALIFORNIA

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11 In re: CHAPTER 13
BK. LA08-21855VK
12 DESIREE L. RANCHARAN,
NOTICE OF MOTION; MOTION FOR AN
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Debtor(s). ORDER APPROVING A LOAN
14 MODIFICATION AGREEMENT WITH
BANK OF AMERICA
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16

17 Date: November 25, 2009


Time: 11 :30 a.m.
18 Place: Courtroom 1675
255 EastTemple Street
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Los Angeles, CA 90012
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22 TO: ALL INTERESTED PARTIES AND THEIR ATTORNEYS

23 PLEASE TAKE NOTICE that on the above date and time and in the

24 courtroom referenced above, debtor will move this court for an order approving a loan
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modification agreement with Bank of America.
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MOTION FOR AN ORDER APPROVING LOAN

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MODIFICATION AGREEMENT WITH BANK OF AMERICA
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4 Debtor Desiree L. Rancharan hereby moves this court for an order approving

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a modification of the loan from Bank of America now secured by a trust deed on
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debut's home.
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This motion is based on the attached declaration of Desiree L. Rancharan
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9 indicating that Bank of America wants such court approval to modify this loan.

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DATED:
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Respectfully submitted,
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SMYTH LAW OFFICE
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By: ,f\fr
'-A arew E. Smyth
\...(

Attorneys for Debtor


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e 2:08-bk-21855-VK Doc 55 Filed 10/09/09 Entered 10/09/09 09:53:21
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DECLARATION OF DESIREE L. RANCHARAN

2 IN SUPPORT OF MOTION FOR APPROVAL OF LOAN MODIFICATION

3 WITH BANK OF AMERICA

5 STATE OF CALIFORNIA )
) ss:
6 COUNTY OF LOS ANGELES )
7
I, Desiree L. Rancharan hereby declare under penalty of perjury that the
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following is true and I have personal knowledge of each fact stated in this
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10 declaration.

11 1). I am the Debtor in the above entitled Chapter 13 filed on August 2, 2008

12 and was confirmed on March 18,2009, Case No. LA08-21855-


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2). I have been approved for a loan modification from Bank of America---copy
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attached as exhibit A. This modification lowers from 8.45% to 2% and lowers my
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16 payment to $1697.22 per month and with insurance and tax added the payment will

17 be $2357.23. My loan would have gone up to $3500 this October without the
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modification. Also the missed payments will be put at the end of the loan. These
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changes will make it possible for me to keep my house. I had been falling behind on
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Chapter 13 plan payments and now have a motion by the Trustee to dismiss.
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22 Because of this modification I can become current on payments to the Chapter 13

23 Trustee in two or three months.


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3). Bank of America Wants me to get Court approval of this modification before
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26 they sign it. That is why I am bringing this motion.

27 4). If called upon to testify as to the foregoing, I could and would so

28 competently do so.

Wyngate #7

NAME OF DOCUMENT
2:08-bk-21855-VK Doc 55 Filed 10/09/09 Entered 10/09/09 09:53:21
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Executed this 5th day of October 2009, at Los Angeles, CA 90010

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3 ~z.<" ~~>"-7 ~,
-[Jesiree Ranac~ n
4 Declarant
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Wyngate #7 2

NAME OF DOCUMENT
e 2:08-bk-21855-VK Doc 55 Filed 10/09/09 Entered 10/09/09 09:53:21
C Home Lo~ns SeIVieing,
1'1Home Retention
LP
Div~ion: CA6·919-01-43
Main Document Page 5 of 10
Seplemi'H:rJO,2()()Q
OCountrywideW~y
oi V~lIey, CA 93065

':SIREE RAl"CHARAN RE BA21~ 112068628


1\ YNE ROWLAND "r'lJflC,ty 19JIWE.ST66TIISTREET
HW66thSt AddlU5 LOSAI'GF.I..F.S,
CA 90047
t$1\n~tJQ' CA 9(1047

[MPORTANT MESSAGE ABOUT YOUR lOAN

We arc plca~ed to nd,io;c you Ihnt your luan modification has been approvf'd In order for the modific.1lion to be valid, the
endllsed dll~umcn(s nced to be sigllcd, r1otanzed, and returned with lhe rcquested certified funds,

The followillg aUl(lllrltSwill be added to your clirrent principlll halanee, rC~1l1tingin a modified principal halanee nf$4 )(1,(,2\1,60
priorlo)'ourrlr~tpaymentdate, The amount adJed to)'our IOllnis:

Interest: $58,073,79
Fees $22'-47
Escrow: ilO'H9,91
Total: $79,229.17
Your new modified monlhly payment will he $2,JS7 23, eITe<:th'ewith )'nUTl1ecemher 1,2009 paymenL This •.••
'ymenl is SUh)CCIIO
ChllngClfyourest.rowllccount is Teanal)"ed or if you have IISlep raleoT adJuSlahleraleloonl)'[)C

A breakdown uf your pil)1T>entis as follows

Principal and [nlerest $1,(l'n.22


IO.scrow/ Option m~
TOlal P"ymenl
"""0'
S2,J57.2J

\\'111\1 \'OUSIIOULDDO
The following :l1110Ilnl
mllsllx paid in C'ER" t~IEJ) "UNDS in order for the modificlllion 10betome effeclive:

MmlificallullFee $0,00
Tillcam.l Rccot(tll\gFces ~O.OU
DClinquentl!scrow' SOOO
ForcclOSureFce5' $1,433.16
Ih.nkrupteyFee~· 50.00
Fldd Inspcctlon Fees: S20900
OumandingLalcCharges SO.OO
NSF/Mlsc,Fees
Delinquenl Mortguge raymenl(s):
''''00
SO 00
Mo(lIfied Mortgage I'''ymenl($): "'00
Paniat I'a)mcnt· (SI.702.16)
Tot,,1 Amount Due" SO.OO
TIIis offer is contingent on lhe follo'Wltl&
• Copy of }our mosl recent SUPPlJrtlnglncome receipts (pay stubs), If you file self-employed, plense Include the last 2 quancls of YOIIr
Profit llfIdI.oss Statelllents (PL Slalements), If you have recently secured ncw emplnymcnl, please include a ICfferfr(lm your cmployer
~enf)Ulgnetandgr0S5income. P1C3.'iCdonol'iCndofiginal~

, A Icnder's tille insurnnce Jlolicy or endursemenL •••.Iuch insures the Modified Mortga~e RSa valid lien in :lccoro:uu:e w.th our
n:qUlrements. Iry"u have WI)'Olher encumbrnnces 00 the property, then you mllYIx: required 10obtam agrecmCnl~ by ""lIch O!her
secured credilors subordillatc thclr mtcrcst lothc Modified Mortgage

This offer is contlngcnt upon RAe Ilome l,mlllS Servicing. LP reeeivtng rc\icffrom lhe 1\1I1omRlicSt.'y fur any bankruptcy In whkh the
propelt) referred to in thc f.nan Modific;ltiun Al:rcclllcnl is Included at the IImc nflhe modificallon.

Jrao)' issucsnrisebetween lhed:llenflhisc"TlIInitrncntalld tbcdalcoll whichallofthClcrmsandcooditionsofthls1cltcr~rcfioali7ed.


Illeludlllg, bill n(')llilllited 10,deleriorall(Jl\ in the condition of tile property, l~wsuilS, licn,~,addililln~l expcnses and defaulted amount, then we
mRytermlnate this offer lind purlueall collection action, [ncludingforeclosurc.

EXHIBIT "A"
e 2:08-bk-21855-VK Doc 55 Filed 10/09/09 Entered 10/09/09 09:53:21 D
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This ICller docs !II)\ SlOp, waivc or PMtllOIlC thc Collcclil.'n a~ti()os, or tredit rerorting attlon~ we h~ve l~ken or colllcllll'l,"t laking ogainst you
ann rhe property. 111the evcllilhal you do nol 01 c:mnot fulfill ALL of the term' Anr\ tOndlliollsoftilis letter n" liller than Octuber 10, 200'J,
we wilt contllllle our colleclion~ aclions wlthoul giving you addilional noticc~ or rc"flOn'\C periods.

l"hc following documents ha~e been I:Iltloscd

\lodifieJlion Altrccmcnl
"'USI be SIJ:ncd In the prescote of a Notmy The notal)' acknowledgmenl mU~1 he in rcoonbble form, All J"an",,~ who own an inte~sl in lhe
pruperly mu,t ,iAn lhe modlticallon agreement a.~ their nllille alllx:ars

("~lIfnrnlli AIII'urpon Atknuwledgment


ThiS document will only he used lflbe loan 1lI000lilicalion agreemenl is tieing excculcd in the state ofClllifomia. It will he utihzm by II nolary of
lhe Slate of California in plaLe of the nolary ~etion conL,ined in the Loan Modificalmn Agreement.

The follollling documents m;ay have been included if applicable to your Ioart'

r.~'Op{iDn l ..••u I)IKlo.~ure


Iil"ll plll1ic.~ \\hoown an lnlerC5lm {he pruperty must ~Ign (he P~yOplioll Loan DisclosUTC a~ theIr name appears.

HllllkruptC)'Di .•c1osure
All pilI1le~ "bo own nn interest in the property must sign the Oankrutpey Ulselo,ure a.~ thdr n~me appears

Vleue return allll( the enclnsetl dlleulllenlS 10 lIS in the encluseLl pre_IIHld n:1) t:X fllvtlOlle no liter thltll Oclohtr 10,2009 tos:clher
with II cerlified check or mVllcy urdu ( •••.ilh IUlln oumhu on llle check) in the IImOllnt orSO.OO 10 the rullowins: llddrtu:

O ••••C Home Loans SeH·icing. LP


Ann I-lome Retention Division: CA6-919.()1·4J
400Cnunlf)'v.';de Way
Simi Valley. CA'J30(i5

TIlA1"K YOU FOR YOUR UUSINt:SS

1I00'E neparlment
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oan it 112068628
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··---·· •••••••••--··--------········ •••••••··-FOR INTERNAL USE
ONLY--- ••_ __ .. _

LOAN IODIFICATIO' AGIU:EMENT


(Fixed Interest R"lc-Recorded)
This loan Modlficabon Agreement ("Agreement"). made this 30th day of September 2009, between WAYNE ROWlAND,
DESIREE RANCHARAN and BAC Home loans Servicing, lP (lender), amends and supplements (1) the Mortgage, Deed
of Trust, or Deed to Secure Debt (the Security Instrument), dated the 23rd day of August 2005 and in the amount of
5332,800.00 and recorded on the 2nd day of September 2005 in Book No. None, Page No None as Document No 05
2124151 in the OffiCial Records of lOS ANGelES County, in the State of CALIFORNIA, and (2) the Note bearing the
same date as, and secured by, the Secunty Instrument. which covers the real and personal property described in the
Security Instrument and defined therein as in the 'Property', located at 1931 WEST 66TH STR[ET, lOS ANGELES, CA
90047
Please See Attached Exhibit (A)

In consideration of the mutual promises and agreements exchanged, the parties hereto agree as follows
(notwithstanding anything to the contrary contained in the Note or Security Instrument):

t As of the 1st day of December 2009. the amount payable under the Note or Security Instrument (the "Unpaid Principal
Balance") IS U.S. $410,629 60 conslstmg of the amount{s) loaned to the Borrower by the lender which may Include, <Ire not
limited to, any past due prinCipal payments, interest, lees andlor costs caprtalized to date

Z The Borrower promises to pay the Unpaid Principal Balance, plus mteresl, to the order of the lender, Interesl will be
charged on the Unpaid Principal Balance at the yearly rale of 2 000% from the 1st day of November 2009. The Borrower
promIses to make monthly payments of principal and interest of US. $1,697.22 beginning on the 1st day of December
2009, and continuing thereafter on the same day of each succeeding month until principal and interest are paid In full II on
the 1st day of September 2035 (the ~Malurity Date~), the Borrower still owes amounts under the Note and Security
Instrument. as amended by this Agreement, the Borrower Will pay these aroounts in fun on the MatUrity Date.

3 The Borrower will make such payments at 400 Countrywide Way, Simi Valley, CA 93065 or at such other place as the
lender may require.

4 Nothing in thiS agreement shall be understood or construed to be a satisfaction or release in whole or In pan of the Nole and
Security Instrument. Except as otherwise specifically prOVided in thiS Agreement, the Note and Securrty Instrument will
rem<lin unchanged, and the Borrower and lender wiil be bound by, and comply with, aU terms and provisions thereof. as
amended by this Agreement.
5 In conSideration of this Modification, Borrower agrees that if any document related to the Security Instrument, Nole and/or
Modification is lost, misplaced, misstated. inaccurately renecls the true and correct terms and condlhons of the loan as
modified, or IS otherwise miSSing. Borrower(s) Will comply With lender's request to execute, acknowledge. initial and deliver
to lender any documentation lender deems necessary If the onglnal promissory note is replaced Ihe lender hereby
indemnifies the Borrower(s) against any loss associated With a demand on the onglnal note All documents lender requests
of Borrower{s) shall be referred 10 as Documents Borrower agrees to deliver the Documents Within ten (10) days after
receIpt by Borrower(s) of a wfltlen request for such replacement

As eVidenced by their sIgnatures below. the Borrower and the lender agree to the foregoing

WAYNE ROWlAND Dated

DESIREE RANCHARAN Dated

STATE OF
COUNTY OF
Scptcrnhc, JO.2009

2:08-bk-21855-VK
)(SIREE RANCflARAN
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~"A YNE ROWLAND
IQJ1W66thSI
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RE BAllo

Propcny 1911 WEST 66TH STRFFT

..osA/lgcln CA 9Ol'l41 Add~~~ LOS ANGELf..<;. CA 911()41

RATE CHANGE NOTICE

I IMPORTANT MESSAGE ABOUT YOUR lOAN

Your loan has been converted from an Adjustable Rate Mortgage (ARM) Into fbeedrate mortgagt!

HOW WE CALCULATE YOUR NEW MONTHLY PAYMFNT

Step 1: Your new Interest r<lte:

Current

Interest Rilte 114SO%

Step 2: Delermine new Payment amouot

Your new montHy interest rate and payment are fi•..ed as shown below:

New Il'Ilerest Rate '.000%

,..
AntldpatedPnncipal Balance 1 $410,629.60
Remi\lnIOoTerm
New Pnndpal and Inter1!St payment $1,697.22
New Payment Effective 12/1/2009

If you have an escruw i1ccount. this notke does not address any changes to your escrow payment. Please
refer to yoor monthly statement fOi information regarding your OJrrcnt escrow Pilyrnent

Pleau he :llh'ised, this leiter is null and void if Ihe properly signet! :md ucculcu Modification
DoculIlcnts llrc !lot returncd hy October 10, 2U09.

1 AIllIl:lp,lttdprlndDaINl;,ncebtho!ulllJ;J!d Pftnclp.1! that you Me c:lfl)eQoo toO<"e;,\ the P"VmentChlr.ge Dltt. and Is
Cilculited N~on the HSLmDtlonth.1 PI1ndpal~nd lntClest ~ wllbe ,emttttdon paymentsdL'e lriOr tolhe new
IlIV'TIente1lcctlvel'lale

You all' • vlJll~d Ctdlrrne.:al RAC 11"0"" !,n.'~ ""''''~lnl:. LV :and 11i~our oonllnued goal In ",n •.,1k ~ou ",,,h lh~ h;~hnllc"el of
", ••loon",s"osf;K:I1OR

IIESIHH ItANCIIAIl.AN

BAC Home Loans Servicing, LP


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PROOF OF SERVICE C.C.P - §1013a. 2015.5

3 STATE OF CALIFORNIA )
)ss.:
4 COUNTY OF LOS ANGELES )
5
I am employed in the County of Los Angeles, State of California. I am over the
6 age of 18 and not a party to the within action; my business address is 4929 Wilshire
Boulevard, Suite 605, Los Angeles, CA 90010.
7
On octobeM ,2009, I served the foregoing document described as NOTICE
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OF MOTION; MOTI0N FOR AN ORDER APPROVING A LOAN MODIFICATION
9 AGREEMENT WITH BANK OF AMERICA in this action:
[X] By placing true copies thereof enclosed in sealed envelopes, addressed as
10 stated on the attached mailing list.
[ ] By placing [ ] the original [ 1 a true copy thereof enclosed in sealed
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envelopes, addressed as follows:
12
SEE ATTACHED SERVICE LIST.
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[X] By Mail
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[ ] I deposited such envelope in the mail at Los Angeles, California. The
15 envelope was mailed with postage thereon fully prepaid.
[X] As follows: I am "readily familiar" with the firm's practice of collection and
16 processing correspondence for mailing. Under that practice, it would be
17 deposited with the U.S. Postal Service on that same day with postage thereon
fully prepaid at Los Angeles, California, in the ordinary course of business. I
18 am aware that on motion of the party served, service is presumed invalid if the
postal cancellation date or postage meter date is more than one day after date
19

20
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Executed on October .:t,
of deposit for ma'ling in affidavit.
2009, at Los Angeles, California.

22 [] (State) I declare under penalty of perjury under the laws of the State of
California that the above is true and correct.
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24 [Xl (Federal) I declare that I am employed in the office of a member of the bar
of this court at whose direction the service was made.
25
26
GLORIA MARSHALL
[Type or Print Name} l.f
'YJ d~'~r
!
'-
1 1 <

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SERVICE LIST

2 In re: Desiree L. Rancharan


3 Bk. No. LA08-21855VZ
CHAPTER13
4

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Debtors
6 Desiree L. Rancharan
1931 W. 66th Street
7 Los Angeles, CA 90047
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Attorney for Debtors
9 Andrew E. Smyth, Esq.
SMYTH LAW OFFICES
10 4929 Wilshire BI., Ste. 605
11 Los Angeles, CA 90010

12 Nancy Curry
Chapter 13 Trustee
13
606 S. Olive St., Ste. 1850
14 Los Angeles, CA 90014

15 Office of the U.S. Trustee


725 S. Figueroa St., 26th Floor
16
Los Angeles, CA 90017
17
Citi Financial
18 21115 Hawthorne BI.
Torrance, CA
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20 Countrywide
P. O. Box 10219
21 Van Nuys, CA 91410-0219
22
Bank of America
23 BAC Home Loans Servicing, LP
Attn.: Home Retention Division: CA6-919-01-43
24 400Cuntrywide Way
Simi Valley, CA 93065
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