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 […]
-
Recently Posted Articles written by: Charels R. Harroun, Attorney at Law
- Temporary Freeze on Member Deposits
- Reopening Bankruptcy Case Denied
- Attorney Fees Assesses Against Bankrupt Debtor
- Holder in Due Course – Checks
- Automatic Stay Violation: Costs Assessed Against Credit Union
- Credit Union Lien Survives Chapter 7 Discharge
- Mechanics Lien Extinguished Credit Union Security Interest
- Fatally Defective Mortgage Acceleration Notice
- Defective Notary: Mortgage Void
- Debtor’s Irresponsible Debts Discharged
- Discharged Loan Re-Written Is Unenforceable
2009-2020 Copyright Harroun, P.C. | Credit Union Legal Newsletter powered by WordPress and Uchilla
Subscribe: Entries (RSS) and Comments (RSS)