Latady vs Regions Bank

Adversary Complaint to Strip Off Second Mortgage


Unlike most strip off complaints, the second mortgage in this case was originally a commercial loan on the debtors unrelated investment property. The bank later deemed itself insecure and required debtor to bifurcate the commercial loan by placing half the principal on her home as a HELOC. The 11th Cir has actually questionned its reasoning in In re Tanner allowing a strip off and the facts in this case would seem to allow for a strip off despite the language of 1322.

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Reference Info:Pleadings | Federal, 11th Circuit, Alabama | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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