Monthly Archives: May 2016

Mortgage Assignments: Assignment of a Mortgage Without the Underlying Note is A Nullity

Posted on May 25, 2016 by BankruptcyRealEstateInsights

In re Cornerstone Homes, Inc., 544 B.R. 492 (Bankr. W.D. N.Y. 2015) – A chapter 11 trustee sought a judgment that a series of mortgages were unenforceable as a matter of law because the written assignments transferring them to the … Continue reading →

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Mortgage Priority: And What About Equitable Subrogation?

Posted on May 18, 2016 by BankruptcyRealEstateInsights

Stambaugh v. PNC Bank, N.A. (In re Stambaugh), 532 B.R. 572 (Bankr. M.D. Pa. 2015) – A chapter 13 debtor sought to establish the priority of certain mortgages, and the bank that held all of the mortgages attempted to reorder the … Continue reading →

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Filing on the Eve of Foreclosure: Sometimes It Works, and Sometimes It Doesn’t

Posted on May 11, 2016 by BankruptcyRealEstateInsights

In re LJBV Ltd., 544 B.R. 401 (Bankr. N.D. Ill 2016) – The debtor filed a Chapter 11 case immediately after a receiver was appointed in a state foreclosure proceeding. The mortgagee filed a motion to dismiss the bankruptcy case … Continue reading →

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Postpetition Sale: What Happens If the Debtor Won’t Perform (Not Much)?

Posted on May 4, 2016 by BankruptcyRealEstateInsights

In Re Engels, 536 B.R. 529 (Bankr. N.D. N.Y. 2015) – Postpetition a chapter 13 debtor signed an asset purchase agreement to sell certain real estate subject to court approval. However, the debtor never sought approval – not even after … Continue reading →

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