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Consumer Bankruptcy › Mortgages › Liens

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 -
Kramer Levin Naftalis & Frankel LLP

Second Circuit Holds Trustee’s Recovery of Fraudulent Transfer Is Not Double Recovery

Kramer Levin Naftalis & Frankel LLP on

In Jones v. Brand Law Firm, P.A. (In re Belmonte), Case No. 18-2098-bk (2d Cir. July 25, 2019), the Second Circuit affirmed both the bankruptcy court and district court decisions that found the Trustee was not barred by 11...more

Burr & Forman

Eleventh Circuit Holds That a Creditor’s Due Process Claim Can Be Inadvertently Waived By Inaction

Burr & Forman on

On December 11, 2017, in a case entitled In re Iliceto, the Eleventh Circuit Court of Appeals affirmed the district court’s decision, which held that Nationstar Mortgage, LLC (“Nationstar” or the “Creditor”) received notice...more

Troutman Pepper

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

Troutman Pepper on

Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

Balch & Bingham LLP

Mistaken Date Reference in Security Agreement Costs Bank its Lien Priority

Balch & Bingham LLP on

It’s a common occurrence – a mortgagor or grantor signs the security instrument a day or two in advance of the loan, or perhaps a note is re-signed a couple of days after closing to correct an error in the original note....more

Allen Matkins

Supreme Court Reaffirms a Chapter 7 Debtor's Inability to Strip a Lien Against Real Property

Allen Matkins on

Reaffirming its 1992 decision in Dewsnup v. Timm, on June 1, 2015, the U.S. Supreme Court in Bank of America v. Caulkett, No. 13-1421, once again ruled that a chapter 7 debtor may not void a junior lien under Bankruptcy Code...more

Troutman Pepper

Strong Arm Powers: What Can Be Done With An Avoided Lien?

Troutman Pepper on

DeGiacomo v. Traverse (In re Traverse), 753 F.3d 19 (1st Cir. 2014) – A chapter 7 trustee sought to avoid an unrecorded first mortgage and to preserve the lien for the benefit of the bankruptcy estate. In response, the...more

K&L Gates LLP

Bibbidi Bobbidi Boo: Eminent Domain Needs More Than a Magic Wand to Overcome Title Defects

K&L Gates LLP on

Oh, if it only were that easy. A city seizes “underwater” residential mortgage loans through eminent domain, waves its magic wand, says Abracadabra or Bibbidi Bobbidi Boo, and then the mortgage lien of the prior loan holder...more

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