High court rules 2nd mortgages can’t be voided in bankruptcy

WASHINGTON (AP) – The Supreme Court said Monday it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home’s market value has dropped below the

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SCOTUS to hear if bankruptcy voids underwater second mortgages. whether a second mortgage on an underwater property can be voided during Chapter 7 bankruptcy.. scope and size of residential mortgage-backed securities cases in the Second Circuit.. The high court should rule by summer 2015.

You can’t be sued after Chapter 7 for your second mortgage, but you still owe if you want to own your home outright. Does it also mean the collection agency cannot legally do anything since I completed my bankruptcy? More On 2nd Mortgages In Bankruptcy

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How a home owner can strip away (remove) second mortgages and other inferior liens on a home, without payment, in a Chapter 13 bankruptcy case.. A second major exception to the anti-modification rule is “lien stripping” – a process which allows the court to. 2nd Mortgage (Obtained on 1/2/011) – Payoff Balance.

Removing a Second Mortgage Chapter 13 Bankruptcy also offers an important, and often unknown, option to consumers who have a residential real estate mortgage A 2nd trust deed will not normally bid at a foreclosure sale and it will become a unsecured debt which can be discharged in bankruptcy.

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The U.S. Supreme Court on Monday handed a win to Bank of America Corp by ruling that a second mortgage on an "underwater" home – one with a mortgage balance exceeding its current value – cannot by voided during bankruptcy.

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These courts allow strip-off by a contested matter such as a Bankruptcy Rule. II . Judicial Confusion Concerning the Procedure Required to Strip Off a Lien.. They find that creditors should be afforded a high degree of notice, as in an. motion which sought to void the bankruptcy court's order confirming Espinosa's plan.

Loan Modification Processing News & the Devastating Foreclosure Market | mortgage loan Wang rosebud: domination Saturdays “Then your house between two and four on Saturday most {54} likely resembles a bee-hive, where the honey bees are flying in and out.” “And I sit in the middle as queen you would say, a very pretty compliment.” “I never make compliments, no more than I make honey, so the hour of swarming on Saturday does not suit me at all.pursuing mortgage modifications even when they make economic sense.7 First, show that about 900,000 securitized loans began the foreclosure process as of. Equally devastating, third-party servicers might find it more attractive to.“Arizona Eviction Prevention Project would target eviction epidemic” – “Mortgage” Nuzzel Newsletter by Lillian Wong on Deloitte to pay $149.5 million to U.S. over failed mortgage lender "Arizona Eviction Prevention Project would target eviction epidemic" – "Mortgage" Nuzzel Newsletter by Lillian Wong on thestar.com is Canada’s largest online news site. From national coverage and issues to local headlines and stories across the country, the Star is.

Bankruptcy may end second mortgage woes. That allows the Chapter 13 court to "strip off" the second and third mortgages and recategorize them as unsecured debt – which, under Chapter 13, takes last priority and often does not have to be paid back at all.