Trustee Blog

Chapter 7 Trustee Lynda Bui’s Questionnaire

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Chapter 7 Riverside Trustee Lynda Bui

As I mentioned in my last post that Ms. Bui has a special questionnaire she asks debtors to fill out if they intend to surrender their property. Below are the rest of the questions:

Is the property currently vacant?

If No, who resides there? DEBTOR/TENANT

If occupied by tenant are you collecting rent?

If occupied by tenant provide Trustee Lynda T. Bui with a copy of your most current lease agreement.

Do you belong to an HOA?

If YES, provide Trustee Lynda T. Bui with a copy of your most recent statement.

Is the Home in serious need of repair?

Explain

Is the Property Insured?

If YES, provide Trustee Lynda T. Bui with proof of insurance.

Any documents requested on this form may be uploaded vis Doclink, emailed to TR.Wooten@shbllp.com , or mailed to Lynda T. Bui, 3750 Univeristy Ave., Riverside, CA 92501

If you have any questions regarding the document request please contact Tonia Wooten at TR.Wooten@shbllp.com or (949) 340-3400.

Chapter 7 Riverside Trustee Lynda Bui uses the above questions to see if the Debtor’s property would be a good candidate for a bankruptcy trustee administered Short sale for the benefits of the bankruptcy estate. Ms. Bui has special agreements with certain mortgage lenders which the lenders will “carve out” proceeds from the short sale to the bankruptcy trustee.

This procedure is not a common practice in the Central District of California and in the Riverside Division, Ms. Bui is the only trustee that attempts these lender assisted short sales.

Practice Pointer:

If you client intends to surrender real property, arrive at the hearing early since the client will have to read the green informational sheet, fill out Ms. Bui’s orange sheet, and fillout this white questionnaire re: the real property. This process could easily take 15-20 minutes. And if the items are not completed, Ms. Bui will not hear the case and put your client at the end of the calendar.

 

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