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Chapter 13 › Supreme Court of the United States › Lien Stripping

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

Dechert LLP

U.S. Supreme Court Holds that Out of the Money Mortgages Cannot be Stripped Off in Chapter 7 Bankruptcy Cases

Dechert LLP on

The U.S. Supreme Court held that a secured creditor in a chapter 7 bankruptcy case is protected from having its lien “stripped off” even if the collateral securing its claim is worth less than the claims asserted by a senior...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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