Case Information
*1 UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW JERSEY
Caption in Compliance with D.N.J. LBR 9004-2(c) Order Filed on February 8, 2022 Scura, Wigfield, Heyer by Clerk Stevens & Cammarota, LLP U.S. Bankruptcy Court District of New Jersey 1599 Hamburg Turnpike P.O. Box 2031 Wayne, New Jersey 07470 Tel: 973-696-8391
Jamal Romero, Esq.
jromero@scura.com
Counsel to the Debtor
Chapter 13 In Re: Case No.: 19-20032 JOHN O’DONNELL, Judge: Hon. Vincent F. Papalia
Debtor. Hearing Date: February 3, 2022 ORDER AUTHORIZING DEBTOR TO OBTAIN POSTPETITION FINANCING PURSUANT TO 11 U.S.C. § 364 The relief set forth on the following page s is hereby ORDERED .
DATED: February 8, 2022
(Page 2)
Debtors: John O’Donnell
Case No.: 19-20032-VFP Caption of Order: Order Authorizing Debtor to Obtain Postpetition Financing
The Matter having come before this Court on the Motion for An Order Authorizing Debtor to Obtain Secured Post-Petition Financing (“Motion”) pursuant to 11 U.S.C. § 364(c) and Bankruptcy Rules 4001(c) and 9014 filed by John O’Donnell (“Debtor”). The postpetition financing’s sole purpose is to refinance the Debtor’s principle residence located at 542 Westwood Ave., Rivervale, New Jersey (“Property”) and pay off the loan with Wells Fargo Bank, N.A. (“Wells Fargo”).
The Court finds that it has jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and 1334. The Court finds that this is a core proceeding pursuant to 28 U.S.C 157(b)(2)(A) and (D). The court finds that the authorization of postpetition financing is in the best interest of the Debtor, his estate, creditors and parties-in-interest. The Court finds that proper and adequate notice of the Motion has been given and that no other or further notice is necessary.
Based upon the foregoing findings, the Debtor has shown sufficient justification for the entry of this Order. Accordingly,
IT IS ORDERED THAT: The Debtor is authorized to obtain post-petition financing with Homebridge (“Lender”) up to $384,648.00. Attached to the Debtor’s certification as Exhibit A is the Pre-Approval Letter from the Lender. The funds from said post-petition financing shall be used to pay off Freedom Mortgage
Corporation at the time of the closing pursuant to an up to date valid payoff letter issued by secured creditor. Sufficient proceeds from the refinance shall be turned over to the Chapter 13 Trustee to
payoff debtor’s plan at a 100% dividend to unsecured.
4. The Debtor is authorized and empowered to take all actions necessary to implement the relief granted in the Order.
5. The Court shall retain jurisdiction to hear and determine all matters arising from the implementation of the Order. Notwithstanding the possible applicability of Bankruptcy Rules 6004(h), 7062, 9014, the
terms of this Order shall be effective immediately and enforceable upon its entry. The terms of the Order shall be binding on any subsequent trustee appointed under
chapter 13 of the Bankruptcy Code. To the extent the Pre-Approval differs from this Order, this Order will control.