Legal News for Credit Union Managers Since 1990

Archive for October, 1991

28
Oct
1991

U.S. Supreme Court Rules: Mortgage Debt Survives Chapter 7 Bankruptcy

In one of the last opinions issued by U.S. Supreme Court Justice Marshall, the Supreme Court held, in the case of Curtis Johnson v. Home State Bank (111 S. Ct. 2150) 1991, that a creditor’s secured home mortgage loan survives a debtor’s Chapter 7 filing for bankruptcy. Here, the debtor defaulted on a promissory note […]

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