Tag Archives: financing

Mortgagor Claims: There is A Limit to the Ability to Invoke the Assistance of Federal Courts

Zapotocky v. CIT Bank, N.A., 587 B.R. 589 (S.D.N.Y. 2018) – A former debtor sued a mortgagee in federal district court claiming a breach of contract by the lender and challenging a foreclosure judgment entered in state court. This is one … Continue reading

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Chapter 13 Plan Forced Vesting: If There Is No Objection And A Plan Is Confirmed, The Matter Is Settled Whether The Law Is Or Not

In re Peterson, 581 B.R. 789 (Bankr. D. Md. 2018) – A chapter 13 debtor confirmed a plan that provided for surrender of her condominium unit to secured creditors. After confirmation, the condominium association sought relief from the automatic stay to … Continue reading

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Manufactured Home Loans: Deciding Whether the Chapter 13 Anti-Modification Provision Applies Can Be A Vexatious Issue

The Paddock, LLC v. Bennett (In re Bennett), 584 B.R. 15 (8th Cir. B.A.P. 2018) – The debtors proposed a chapter 13 plan that modified the rights of a creditor whose claim was secured by their manufactured home. The creditor objected … Continue reading

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Springing Liability: Full Recourse Means Full Recourse

Oak Creek Plaza, LLC v. Thrivent Financial for Lutherans, 579 B.R. 460 (N.D. Ill. 2017) – The key issue in this case turned on interpretation of the recourse provisions of a mortgage note. The bankruptcy court held that the debtor’s bankruptcy … Continue reading

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Landlord Liens: When Is Waiver and Subordination Not Waiver and Subordination?

Franklin County Area Dev. Corp. v. Edge Pennsylvania, LLC (In re Edge Pennsylvania, LLC), 580 B.R. 120 (Bankr. M.D. Pa. 2017) – A commercial landlord brought a state court action to determine the priority of its landlord lien versus a lender’s … Continue reading

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Setoff: When Is a Deficiency an Insufficiency?

Hurt v. HUD (In re Hurt), 579 B.R. 765 (Bankr. W.D. Va. 2017) – The debtors sought to recover a federal tax refund that the United States Department of Treasury set off prebankruptcy in partial satisfaction of a foreclosure deficiency the … Continue reading

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Debt Acceleration: If You Say It but Decide You Do Not Mean It, Better to Revisit and Say What You Do Mean

Wilmington Savings Fund Society, FSB v. Garza (In re Garza), 577 B.R. 258 (Bankr. S.D. Tex. 2017) – An assignee of debt secured by a deed of trust sought a determination of the validity and extent of its lien. The … Continue reading

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