Tag Archives: financing

Disallowed Claims: Just Because a Claim Is Rejected Does Not Mean the Underlying Lien Disappears

Shoemake v. SN Servicing Corp., 586 B.R. 741 (M.D. Tenn. 2018) – Chapter 13 debtors brought an adversary proceeding against mortgage loan servicers (1) seeking a determination that a deed of trust lien was extinguished when a proof of claim filed … Continue reading

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Reverse Mortgages: Ignore Loan Documents at Your Peril

D’Alessio v. CIT Bank, N.A., 587 B.R. 211 (Bankr. D. Mass 2018) – A chapter 13 debtor sought a court determination that he was a “Borrower” for purposes of a reverse mortgage executed by his deceased wife. The mortgagee disagreed contending … Continue reading

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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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