This U.S. Supreme Court ruling prohibits the debtors ability to “strip- down” a secured mortgage in a Chapter 7 bankruptcy case.  A “strip-down” would allow the debtor to only be obligated to repay the fair market value of the property, even though the outstanding debt may be significantly greater than the value of the mortgaged property.  Here, in […]
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Recently Posted Articles written by: Charels R. Harroun, Attorney at Law
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