From the Editor – Classification and Cure of Defaults • NACTT Academy

From the Editor – Classification and Cure of Defaults

By The Honorable William Houston Brown (Retired)

Debtor’s right to cure is governed by § 1322(b) rather than § 108(b). The debtors had entered into a land contract, which contained a provision that on default of payments for thirty days, the entire balance was due on written notice from the seller. The debtors failed to make a prepetition balloon payment, and the sellers obtained a strict foreclosure judgment, which established a redemption period (Under applicable Wisconsin law, the strict foreclosure judgment was not a “sale.”). The Chapter 13 case was filed and the proposed plan . . .

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