Many of the official Bankruptcy Forms will be replaced with revised versions effective December 1, 2015. Mortgage creditors will be required to use a new Mortgage Proof of Claim Attachment (Official Form 410A) for claims filed after December 1, 2015 and secured by a security interest in the debtor’s principal residence. The new attachment includes the following changes:
- Official Form 410A will replace Official Form 10A and require a payment history from the “first date of default” to the petition date;
- The “first date of default” is defined as the “first date on which the borrower failed to make a payment in accordance with the terms of the note and mortgage, unless the note was subsequently brought current with no principal here, interest, fees, escrow payments or other charges immediately payable”;
As has been the trend, the new form is geared towards providing more information to the Debtor and the Court and to provide more transparency in the calculation of claims. The new form will require additional information to accurately complete.
More information regarding the pending changes in the Bankruptcy Forms is available here.