Forced Vesting – Take It. Please.

By Holly Davala, Staff Attorney for Chapter 13 Trustee Lauren Helbling (Cleveland, OH)

Like most staff counsel for a Chapter 13 trustee, I often see real estate that has little value and is costing the debtor thousands in taxes and interest and is difficult to insure. For some debtors this is their home that they have lived in forever and they have nowhere else to go. Other debtors gladly surrender the property and believe their worries are over -- that is not always the case. The debtors keep getting notices from cities regarding code violations, delinquent tax notices do . . .

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