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Consumer Bankruptcy › Chapter 13 › Mortgage Lenders

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Bradley Arant Boult Cummings LLP

Having Trouble with CARES Act Forbearances in Ch. 13 Bankruptcy? You’re Not Alone!

Bradley Arant Boult Cummings LLP on

Consumers that have pending Chapter 13 bankruptcy cases undoubtedly suffered from financial hardship prior to the COVID-19 pandemic. For many of those consumers, the pandemic may have exacerbated that hardship...more

Bradley Arant Boult Cummings LLP

Escrow Accounts and Chapter 13 Bankruptcy: Inherent Problems with Form B410A

Bradley Arant Boult Cummings LLP on

The intersection of Chapter 13 bankruptcy and escrow accounts is complicated and confusing. Since 2011, various bankruptcy rule and form changes have occurred in an effort to eliminate perceived problems with Chapter 13...more

Balch & Bingham LLP

Eleventh Circuit: Mortgages Not Covered by Bankruptcy Discharge

Balch & Bingham LLP on

In In re Dukes, No. 16-16513 (11th Cir. Dec. 6, 2018), the Eleventh Circuit held that a debtor’s mortgage obligation was not discharged, despite a proof of claim not being filed, because the mortgage was not provided for by...more

Carlton Fields

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

Carlton Fields on

The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

Tucker Arensberg, P.C.

How Long Is Too Long To Reopen A Bankruptcy Case?

Tucker Arensberg, P.C. on

In a per curiam opinion that is not precedential but of interest to lenders who take mortgages as security, the Court of Appeals for the Third Circuit decided that the Debtor’s effort to reopen her bankruptcy case was too...more

Troutman Pepper

Claim Amount: It Pays To Pay Attention

Troutman Pepper on

In re Walker, 526 B.R. 187 (E.D. La. 2015) – The bankruptcy court (1) denied a mortgage lender’s request to file a late amendment to a proof of claim that had been filed on its behalf by the debtor and (2) confirmed the...more

Seyfarth Shaw LLP

Recent Unanimous Supreme Court Decision Holds That Underwater Mortgages in a Chapter 7 Cannot be “Stripped off"

Seyfarth Shaw LLP on

The Issue and Background - Debtors David Caulkett and Edelmiro Toledo-Cardona (“Debtors”) each filed for Chapter 7 bankruptcy relief with “underwater” junior mortgages held by Bank of America, N.A. (“Bank”). In other...more

Lowndes

Three Recent Supreme Court Rulings Will Impact Lenders and Investors

Lowndes on

Three significant opinions issued by the US Supreme Court in the last few months will impact lenders and investors. Bank of America v. Caulkett - In a major win for the nation’s mortgage lenders and...more

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