The United States Bankruptcy Court for the Central District of California has established a Loan Modification Management Pilot Program (“LMM”). The LMM is designed to function as a forum for debtors and creditors to reach a consensual resolution when a debtor’s property is at risk of foreclosure. The goal of the LMM is to facilitate communication and exchange of information in a confidential setting and encourage the parties to finalize a feasible and beneficial agreement under the supervision of the United States Bankruptcy Court for the Central District of California.
Currently, the LMM is just a pilot program and not a district-wide program. Only the following judges are participating in the LMM:
You may only use the LMM forms and the Loan Modification Management Pilot Program Procedures if your case or your client’s case is assigned to one of the judges listed above.