News & Analysis as of September 22, 2024

Loan Modifications

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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 +

Part IV: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 4/17/2019

Welcome to Part IV of our series on servicing discharged mortgage debt. This part will discuss modifying a borrower’s loan post-discharge. (If you missed Part I, Part II or Part III, go ahead and catch up.) Part III discussed...more

Part III: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 3/20/2019

Part III: Modifications Post-Discharge - Welcome to Part III of our series on the servicing of discharged mortgage debt. This part will discuss modifying a borrower’s loan after a discharge. (If you missed Part I or Part...more

New Case Poses Threat to Mortgage Servicers in Bankruptcies

Baker Donelson on 10/29/2015

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

Another Bankruptcy Court Confirms Plan Reference to “Surrender” Means Not Defending a Lender’s Foreclosure

Burr & Forman on 8/13/2015

Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more

Mortgage Modifications: Senior Loans May Become Not So Senior

Troutman Pepper on 10/27/2014

Sperry Assoc. Fed. Credit Union v. US Bank Nat’l Ass’n (In re White), 514 B.R. 365 (Bankr. E.D.N.Y. 2014) – A junior mortgagee sought to subordinate the senior mortgage loan based on an argument that modification of...more

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