Local Rule Rule 3002.1-1: Notice of Mortgage Payment Change—Home-Equity Line of Credit (HELOC)
Bankr. D. Me. — General rule
Rule 3002.1-1. Notice of Mortgage Payment Change—Home-Equity Line of Credit (HELOC)
During the pendency of a chapter 13 case, a creditor holding a claim arising from a home-equity line of credit ("HELOC") shall not, under Fed. R. Bankr. P. 3002.1(b)(1), be required to file or serve a notice of any change in the periodic payment amount required by that HELOC, other than a change resulting from an escrow account adjustment, if:
(a) The creditor, in compliance with applicable non-bankruptcy law and the terms of the HELOC, otherwise provides notice directly to the debtor of that non-escrow change to the periodic payment; and
(b) The chapter 13 plan provides that the debtor will make current installment payments coming due under the HELOC to the creditor under § 1322(b)(5) of the Code.