Category Archives: Financing

Mortgage Legal Descriptions: When Is a “Boo-Boo” Fatal (Round 2)?

Posted on February 5, 2013 by BankruptcyRealEstateInsights

Huskey v. Citimortgage, Inc. (In re Huskey), 479 B.R. 827 (Bankr. E.D. Ark. 2012) – Even minor errors can potentially lead to avoiding a mortgage in a bankruptcy.  In this case the debtors tried several avenues of attack to avoid a … Continue reading →

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Mortgage Legal Descriptions: When Is a “Boo-Boo” Fatal (Round 1)?

Posted on January 31, 2013 by BankruptcyRealEstateInsights

In re Thulis, 474 B.R. 668 (Bankr. W.D. Wis. 2012) – Typically an unrecorded mortgage will be void as against a bona fide purchaser under state law.  This in turn will allow an unrecorded mortgage to be avoided in a bankruptcy using … Continue reading →

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Perfecting Manufactured Home Liens: Variations on a Theme

Posted on January 22, 2013 by BankruptcyRealEstateInsights

Kinzalow v. Clayton Bank & Trust (In re Value Investment Properties, LLC), 481 B.R. 403 (Bankr. E.D. Tenn. 2012) – Determining the priority of liens in manufactured homes owned by the debtor raised the standard question of how to classify … Continue reading →

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Mortgagees Beware: Your Dragnet May Have a Hole In It

Posted on January 17, 2013 by BankruptcyRealEstateInsights

Peoples National Bank, N.A. v. Jones, 482 B.R. 257 (S.D. Ill. 2012) – In Jones, the district court reversed the bankruptcy court and held that a standard dragnet clause in a mortgage was not sufficient to secure an advance made by … Continue reading →

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Foreclosure: Will a Last Minute Sale Survive?

Posted on January 10, 2013 by BankruptcyRealEstateInsights

In re Cook, 481 B.R. 265 (Bankr. N.D.N.Y. 2012) – A couple of hours before the Cooks filed a chapter 13 bankruptcy case, their home was sold at a foreclosure sale as the final step in a foreclosure of the first … Continue reading →

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Mortgagees Beware: Stay Relief Does Not Mean You Are Home Free

Posted on January 8, 2013 by BankruptcyRealEstateInsights

Trauner v. State Bank & Trust Co. (In re Solid Rock Development Corp.), 481 B.R. 221 (Bankr. N.D. Ga. 2012) – A lender obtained relief from the automatic stay in a bankruptcy so that it could proceed with foreclosure of … Continue reading →

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