Servicing Guide

Published November 10, 2020

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What are the required timelines for completing a Chapter 12 bankruptcy?

The timelines for completing a Chapter 12 bankruptcy are described in the following table: 

If the mortgage loan… Then the time frame for completing a Chapter 12 bankruptcy is…

was current or less than 60 days delinquent when the borrower filed bankruptcy

five months and two weeks from the earlier of

  • the 60th day of delinquency, or

  • the date of referral to a law firm.

was greater than or equal to 60 days delinquent or in foreclosure when the borrower filed bankruptcy

five months and two weeks from the date of the bankruptcy filing.

becomes 60 days delinquent pursuant to the plan, post-confirmation

two months and two weeks from the 60th day of delinquency, and the servicer must

  • verify that all previous payments have been properly applied, and

  • send a new referral to the law firm no later than two weeks from the 60th day of delinquency to seek relief from the automatic stay or a dismissal of the case in accordance with local bankruptcy rules and practices.

For more information please see: E-2.2-03: Managing Chapter 12 Bankruptcies

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