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Consumer Bankruptcy › Lien Priority

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 -
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

Ballard Spahr LLP

Wholly Underwater Junior Liens May Not Be Stripped Off in Chapter 7 Bankruptcy Proceedings

Ballard Spahr LLP on

The U.S. Supreme Court has held that a debtor in a Chapter 7 bankruptcy proceeding may not void a junior mortgage lien when the debt owed on a senior mortgage lien exceeds the current value of the collateral, provided that...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Bank of America v. Caulkett and Bank of America v. Toledo-Cardona

Faegre Drinker Biddle & Reath LLP on

On June 1, 2015, the United States Supreme Court decided Bank of America v. Caulkett, No. 13-1421, together with Bank of America v. Toledo-Cardona, No. 14-163, holding that a debtor in a Chapter 7 bankruptcy proceeding may...more

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