Tag Archives: financing

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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Mortgage Loans: Beware Time Bars on Enforcing a Note or Mortgage

In re Eastman, 588 B.R. 600 (Bankr. D. Colo. 2018) – A chapter 13 debtor objected to the proof of claim filed by a mortgagee. The primary issue was whether the applicable statute of limitations precluded recovery of delinquent payments that … Continue reading

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Foreclosure Sales: When Does a Debtor Lose the Ability to Interfere with the Sale?

In re Vertullo, 593 B.R. 92 (Bankr. D. N.H. 2018) – A mortgagee that sold a chapter 13 debtor’s home in a prepetition foreclosure auction but had not yet recorded a foreclosure deed sought relief from the automatic stay in order … Continue reading

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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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