Item Id: Heady01
Case Name: Heady, Steven R & Cathy A
Case Number: 13 64789
Trustee:
Starting Minimum Bid: $50,000
See Link to Auction:
https://www.bkassets.com/auctions/?ult_auc_id=2232
Description:
Payment stream from Chapter 11 bankruptcy case of Alan D. Murray and Elizabeth A. Murray Case #11-10535 filed in the Northern District of California.
Steven Heady has a class 7 secured claim of $138,000 and unsecured claim of $411,417.09 filed in the Murray case.
The second amended plan was filed on October 26, 2012 at Doc #363 and the order confirming plan was filed on December 19, 2012 at Doc #448. The order confirming the plan states the claim is to be paid from the Chapter 11 Murray bankruptcy case in 180 monthly installments of principle and interest at a market rate calculated and based upon full 25 year amortization, and all due after 180 months to Steven Heady.
Other documents in reference to this claim are:
– ORDER DETERMINING VALUE OF CLAIM SECURED BY LIEN ON REAL PROPERTY filed at document #182 on 09-26-11 in Murray case #11-10535 in the Northern District of California which stated:
“the value of the real property collateral securing the claim of Steve Heady with regard to the real property located at 16825 Highway 101 North, Smith River, California (Murray Residence) is determined to be $138,582.91. The remaining $411,417.09 portion of the claim of Steve Heady shall be treated as a general unsecured for purposes of Chapter 11 Plan treatment and voting.”
– Deed of Trust recorded on 10/2/09 at Document #20094342 in the Del Norte County, California Clerk and Recorders office. Also a signed written agreement between Heady and Murray dated September 11, 2007 with a Promissory Note in the amount of $190,397.14 signed August 9, 2008.
Payout History: Current Amount Paid Monthly to Trustee of the Heady case #13-64789: $827.53
$468.64 on a secured claim and $358.89 on an unsecured claim.
4/15/14: $3,852.88 (this amount is the unsecured payments from Dec 2013 thru 1st Q 2014 and secured payments for Dec 2013-April 2014)
4/21/14: $358.89 (unsecured)
5/19/14: $827.53 (unsecured and secured)
6/23/14: $358.89 (unsecured)
6/23/14: $468.64 (secured)
7/22/14: $358.89 (unsecured)
7/22/14: $468.64 (secured)
8/21/14: $468.64 (secured)
8/21/14: $358.89 (unsecured)
9/23/14: $468.64 (secured)
9/23/14: $358.89 (unsecured)
10/23/14: $468.64 (secured)
10/23/14: $358.89 (unsecured)
12/18/14: $468.64 (secured)
12/18/14: $358.89 (unsecured)
12/23/14: $468.64 (secured)
12/23/14: $358.89 (unsecured)
1/26/15: $358.89 (unsecured)
1/26/15: $468.64 (secured)
Total $11,659.54
Documents: Updated Heady Listing Documents
Location Info The order determining value of the claim secured by lien on real property was ordered by the US Northern District Court of California. Case # 11 10535 (Chapter 11) on behalf of Alan and Elizabeth Murray. The value of the real property collateral securing the claim of Steve Heady with regard to the real property that is located at 16825 Highway 101 North, Smith River, California.
Title and Escrow: The following documents for transfer will be prepared after sale:
– an assignment of the bankruptcy estate’s right, title and interest in the promissory note and deed of trust to be recorded in California, County of Del Norte
– an affidavit of lost note for the purchaser
– a transfer of the secured and unsecured claims in the confirmed Chapter 11 proceeding to the prospective buyer
Liens: We do not know of any other liens.
*Picture is of general area, not representative of actual property.*
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