Tag Archives: financing

Secured Claim Cramdown: You Can Try Fighting, But Is It Worth It?

RGW Properties of Beaver County, Inc., 564 B.R. 489 (Bankr. W.D. Pa. 2017) – A Chapter 11 debtor sought confirmation of its plan of reorganization over the objection of its primary secured creditor. The mortgagee argued that (1) the property … Continue reading

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Chapter 13 Residential Mortgages: Anti-Modification Round 3

In re Hueramo, 564 B.R. 604 (Bankr. N.D. Ill. 2017) – A chapter 13 debtor proposed a plan that bifurcated an undersecured mortgage loan into a secured claim and an unsecured claim. The mortgagee objected and moved for relief from … Continue reading

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Chapter 13 Residential Mortgages: Anti-Modification Round 2

In re Addams, 564 B.R. 458 (Bankr. E.D. N.Y. 2017) – A lender holding a mortgage on a two unit structure occupied in part and rented in part by a chapter 13 debtor moved to dismiss the case. The lender … Continue reading

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First Residential Mortgages: Do Not Take Anti-Modification Protection for Granted

In re Birmingham, 846 F.3d 88 (4th Cir. 2017) – A chapter 13 debtor sued his lender requesting a declaration that his chapter 13 plan could modify the lender’s mortgage on his primary residence. The bankruptcy court granted the lender’s … Continue reading

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Short Sale: Is There an Argument That an Underwater Mortgagee Is Required to Consider and Approve?

Hackman v. Nationstar Mortgage, LLC (In re Hackman), 563 B.R. 812 (Bankr. E.D. Va. 2017) – A Chapter 11 debtor sued the holder of his deed of trust note on various grounds, including fraud, breach of an implied covenant of … Continue reading

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Chapter 13 Plans: Start With The Standard Local Plan, And Then What? (Not Much)

In re Sperry, 562 B.R. 1 (Bankr. D. Mass. 2016) – The debtors’ chapter 13 plan included a provision requiring the first mortgagee to send the debtors monthly mortgage loan statements. The mortgagee argued that this made the plan unconfirmable.

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UCC Debtor Name: To Avoid Disaster Dot All of The I’s and Don’t Forget the T’s

Mainsource Bank v. Leaf Capital Funding, LLC (In re Nay), 563 B.R. 535 (Bankr. S.D. Ind. 2017) – A bank brought an adversary proceeding seeking a determination of the validity and priority of the competing lien of an equipment lender. … Continue reading

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