Category Archives: Financing

Drafting Errors: The Importance of Proofreading Cannot Be Overestimated

Scott v. U.S. Bank N.A. (In re Scott), 600 B.R. 506 (Bankr. W.D. Pa. 2019) – A stipulation between the debtor and a mortgagee misstated the original principal amount of the mortgage debt. Eventually the debtor sought to enforce the stipulation, … Continue reading

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Agricultural Liens: Better Figure out the Right i’s To Dot and t’s to Cross

Fishback Nursery, Inc. v. PNC Bank, N. A., 920 F.3d 932 (5th Cir. 2019) – In this priority dispute two nurseries sold trees and shrubs to a commercial wholesale farm that went bankrupt. They claimed their agricultural liens in the debtor’s … Continue reading

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Sheriff’s Fees: Surprise, a Commission May Be Due for a Foreclosure Sale That Did Not Take Place

Dobin v. Golden (In re Smith), 599 B.R. 266 (Bankr. D. N.J.) – A chapter 7 trustee brought an adversary proceeding objecting to (1) a claim filed by a sheriff for a commission based on a prebankruptcy foreclosure sale that does … Continue reading

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Reverse Mortgages: Can A Reverse Mortgage Loan Be Reinstated?

Reverse Mortgage Solutions, Inc. v. Nunez, 598 B.R. 876 (S.D. Fla. 2019) – A debtor filed a chapter 13 plan that proposed to cure defaults under a reverse mortgage by paying unpaid taxes and insurance. The mortgagee objected, arguing that because … Continue reading

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Yield Maintenance Premiums: The Continuing Saga of Premiums Charged after Involuntary Acceleration

In re 1141 Realty Owner LLC, 598 B.R. 534 (Bankr. S.D. N.Y. 2019) – A debtor objected to a proof of claim filed by a mortgagee that included a Yield Maintenance Default Premium. The debtor argued that the mortgagee had accelerated … Continue reading

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Manufactured Homes: Real or Personal Property – Who Knows?

Paddock, LLC v. Bennett (In re Bennett), 917 F.3d 676 (8th Cir. 2019) – A creditor holding a security interest in a manufactured home contended that its claim was secured only by real property that was the debtors’ principal residence. Consequently, … Continue reading

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Avoiding Mortgages: The Saga of Exercising Strong Arm Powers Continues

Harker v. PNC Mortgage Co. (In re Oakes), 917 F.3d 523 (6th Cir. 2019) – A chapter 7 trustee brought an adversary proceeding to avoid a defectively acknowledged mortgage by exercising a trustee’s strong-arm powers as a bona fide purchaser of … Continue reading

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